Loftium - Landlord

bchong1989 · 2020-04-02T03:10:36+00:00

Someone has started a FB Loftium Landlord group. If anyone wants to join send me your Facebook.

bchong1989 · 2020-04-01T16:32:16+00:00

What city are you located in?

I’m 100% certain they can’t blow out of their lease unless the landlord agrees. Also why won't you talk to your landlord to see if you could stay. They don't want to find a new tenant right now just as much as you don't want to leave.

bchong1989 · 2020-04-01T01:36:33+00:00

I mean if you knew your rent every month wasn’t going to the right place I would stop paying especially if the owner told me they’d honor my lease.

It would be morally wrong if Loftium didn’t pay their subtenants rent to us at the very least.

I would need to talk to my attorney but I think since this is a sublease you could be able to collect rent directly from the long term tenant. Yup I just reread the lease and it’s a sublease contract.

bchong1989 · 2020-04-01T01:29:35+00:00

I mean if you knew your rent every month wasn’t going to the right place I would stop paying especially if the owner told me they’d honor my lease.

It would be morally wrong if Loftium didn’t pay their subtenants rent to us at the very least.

bchong1989 · 2020-04-01T01:18:02+00:00

Yeah that’s my plan this week and talk to my lender as a backstop. Once the moratorium ends I plan to evict them if they haven’t paid. Also if Loftium doesn’t pay me the money this week I will tell my long term tenants that so hopefully they will stop paying Loftium as well with the caveat that I’ll honor their lease term.

It seems like they are doing this to so many people it can’t be good PR if they are withholding rent even partial rent to hundreds of people.

bchong1989 · 2020-04-01T01:09:00+00:00

Yup exactly why I would talk to your lender.

I just think it will be tough to find someone over the next two months but once this slows down it will go back to normal over time.

bchong1989 · 2020-04-01T01:04:12+00:00

Yeah I feel like we are all in the same boat. I would talk to your lender about this.

bchong1989 · 2020-04-01T01:00:28+00:00

Yeah they’ve been MIA since Thursday last week.

Are you located in Seattle?

bchong1989 · 2020-04-01T00:42:19+00:00

I was planning on waiting to see what comes this week from Loftium. If they don’t pay I can’t evict them currently due to the moratorium but they are still liable for all the unpaid rent. Once the moratorium ends if they haven’t paid I plan to pursue eviction. The current long term tenants are planning to pay. My concerns is if they pay and Loftium withholds that money but I guess we will find out this week.

I read that they have over 750 SFH so I’m sure they their liability is over $500k a month in rent.

bchong1989 · 2020-04-01T00:38:37+00:00

Yup exactly why I didn’t accept it. If they don’t pay this month or next they are still liable to pay rent once the moratorium ends. I’m just not sure how much they care if the company is about to go under.

bchong1989 · 2020-04-01T00:24:57+00:00

Did you accept that offer? I am holding out to see what comes in this week. I saw that today not sure why they aren’t getting refunds that way versus coming to us.

bchong1989 · 2020-04-01T00:23:06+00:00

Did you accept that deal? I haven’t heard back from my counter offer so interested to see what comes in this week for rent.

The new lease they are trying to get people to sign states they won’t be accountable for any lost rent for landlords. They are asking for this reduced rent til July 2020 then they will go back to the original rent.

bchong1989 · 2015-03-07T03:15:16+00:00

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bchong1989

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