Central Bank nearly broke !

[EL_TIGRE_de_Tigre]

Someone in my building is seven months behind in expenses, and the rest are being charged extra to cover the deficit. How long will be able to do it? What happens when we cannot deal with the extra expense?

I never have heard of such a thing OTB. How is this possible? Is this legal? I am guessing not. Please shed some light on this if you can ... Thanks.

 

[on the brink]

The administration is "starting legal procedures". Never had an apartment before, so I've no idea how "consorcios" work.

This is a well-to-do couple with a large house in Punta del Este and a housekeeper five days a week. Which probably depends on the job, so I imagine they can't even let her go.

Many people are struggling, even those in the middle class. Things are ugly and will get uglier, I'm afraid.

 

[EL_TIGRE_de_Tigre]

Someone in my building is seven months behind in expenses, and the rest are being charged extra to cover the deficit. How long will be able to do it? What happens when we cannot deal with the extra expense?

How is it that your rent amount can be recalculated to reflect the one tenant who is not paying?

According to what you have shared with us:

It seems that the landlord has spread their loss of revenue from the non paying tenant to that of the paying tenants.

I have never heard of anything like this. How is this possible? Is this legal anywhere? I am guessing not.

Any attorneys out there know about something like this???

 

[Fiscal]

yet life goes on. I don't really know anyone, including my ex-suegros, that seem to be too affected.

 

[EL_TIGRE_de_Tigre]

Fiscal,

If you have a great credit score (EE UU thing!) you have something to protect by being a good payer / responsible borrower as a person who has dated financial obligations. I know you know this. But when bruised credit or no credit at all is a consideration for someone, they have the point of view that you can't get blood from a stone.

I have seen many people in life who get through it acting irresponsible and at times (figuratively) sticking their head in the sand like ostriches. They bounce through life in a manner different from you and me and they do okay. It's just a different choice.

But the real test is when we want something and they want something. WE GET IT! They continue to want.

Get the point?

 

[sts7049]

Someone in my building is seven months behind in expenses, and the rest are being charged extra to cover the deficit. How long will be able to do it? What happens when we cannot deal with the extra expense?

i would tell that administration to go F themselves

 

[garryl]

Someone in my building is seven months behind in expenses, and the rest are being charged extra to cover the deficit. How long will be able to do it? What happens when we cannot deal with the extra expense?

This is very common even in nice neighborhood. People can lose their income, or they inherited the apartment and never have much in their bank account. You are lucky you have only one, sometimes there are few in the building. Everyone has to pay more and take that one to court. One day, after 2-3 year maybe, they will find the money to pay. It's probably very hard to foreclose the apt in Argentina. The sad news is that, after a few years,
they finally pay the due, but peso is already worth lot less. They probably can negotiate with the court and just pay the principal. There is not much you can do. My next door has not paid for a long time, the people in the building are mad, but they pretend nothing happens when they see the family which does not pay, pretty civilized I think. I always brought gifts to the kids next door, they cant pay the expense, and it was their mother's apartment, I found them to be very nice people. They probably feel the pressure but do not have the means to take care of the problem.

 

[EL_TIGRE_de_Tigre]

This is very common even in nice neighborhood. People can lose their income, or they inherited the apartment and never have much in their bank account. You are lucky you have only one, sometimes there are few in the building. Everyone has to pay more and take that one to court. One day, after 2-3 year maybe, they will find the money to pay. It's probably very hard to foreclose the apt in Argentina. The sad news is that, after a few years,
they finally pay the due, but peso is already worth lot less. They probably can negotiate with the court and just pay the principal. There is not much you can do. My next door has not paid for a long time, the people in the building are mad, but they pretend nothing happens when they see the family which does not pay, pretty civilized I think. I always brought gifts to the kids next door, they cant pay the expense, and it was their mother's apartment, I found them to be very nice people. They probably feel the pressure but do not have the means to take care of the problem.

Can you please explain how the non paying tenant affects the rate of the paying tenants???

Example:

There are 10 units in a building, each unit has a rent amount of $1K per month = $10K revenue per month for the complex.

One tenant stops paying, are the other 9 tenants paying their $1K per month plus $111.11 extra to make up for the non paying tenant?

If my example is correct, how can this be? Was there something written into a rental contract that was agreed to in the fine print? Other than that, I can see no precedent for paying extra. Please explain this to me. The concept is not making any sense!

 

[EL_TIGRE_de_Tigre]

Can you please explain how the non paying tenant affects the rate of the paying tenants???

Example:

There are 10 units in a building, each unit has a rent amount of $1K per month = $10K revenue per month for the complex.

One tenant stops paying, are the other 9 tenants paying their $1K per month plus $111.11 extra to make up for the non paying tenant?

If my example is correct, how can this be? Was there something written into a rental contract that was agreed to in the fine print? Other than that, I can see no precedent for paying extra. Please explain this to me. The concept is not making any sense!

Follow up question:

If you are told by complex management that your payment increased to offset a non paying tenant, and you can't afford or won't pay the extra portion, what happens? Do you now have a growing delinquent amount on your account adding up each month as you don't pay the extra?

 

[semigoodlookin]

I think @on the brink is speculating the extra expenses are for this reason? Does it specifically state it one the expenses that this extra cost is because someone else is not paying?

Although, I feel a thread lock coming on if this is not taken to another thread, so I will leave it there.