Are you sending your kids to school next month?

[godisney14]

Why is the landlords income more relevant than the who knows how many thousands of family's paying for unnecessary leases and being robbed of wealth? The landlords can write off the losses but there is nothing to help families absorb the hit but thats supposed to be ok?

Honestly, right now the ONLY people I care about are regular everyday people and whoever helps them most I am behind 100% and that's all there is to it.

I agree with your sentiment.
But, just as an FYI, missed payments cannot be deducted as a loss. It’s not an expense; it’s loss of revenue.

 

[Kestryl]

The problem with letting the kids break their leases is that without the income from the leases, how are the landlords going to pay their property taxes?

Given the amount of tax breaks many of the developers were given... and their lobbying to lower property taxes further by having employees working in the city pay an income tax (targeting the university workers who lived outside of the city, who had to pay the tax but couldn’t even vote on it)... and the general reply of “well, you should have planned for this” or “you should have had six months of expenses saved up in case you lose income” is never applied to a landlord... and that they would be collecting money on unused property (and have been every summer when the undergrads go off to internships and jobs elsewhere)...

I don’t know, maybe that’s something the city can figure out, since they’re so good at giving al these financial incentives. All I know is I see these college towns freaking out over the rising cases of coronavirus due to students returning and landlords (and schools) have tenants sign waivers about how communal living comes worth risks that the landlords aren’t responsible for.

 

[kdonnel]

Wow, that seems high. Is this a typical cost for off-campus housing? Does she have her own bedroom/bath or does she share?

I pay $765 a month for a 12 month lease for my daughter. She is in a 4 / 4 off campus apartment. Four bedrooms / four bathrooms.

$9,180.

On campus is $8,000 for 10 months.

 

[sk!mom]

Why is the landlords income more relevant than the who knows how many thousands of family's paying for unnecessary leases and being robbed of wealth? The landlords can write off the losses but there is nothing to help families absorb the hit but thats supposed to be ok?

Honestly, right now the ONLY people I care about are regular everyday people and whoever helps them most I am behind 100% and that's all there is to it.

But sometimes landlords are everyday people. If they are a big Corp, then they employ everyday people. It sucks to have an unnecessary lease and none of us knew what was coming last fall when many signed leases but it’s not unfair for a landlord to expect you to honor a lease. It’s also not unfair for the leasee to say, I can’t and break the lease. It’s a pandemic, each person has to decide what they can do. If finances are steady, pay the lease. If they aren’t, break it and take the credit rating hit.

 

[mjkacmom]

Why is the landlords income more relevant than the who knows how many thousands of family's paying for unnecessary leases and being robbed of wealth? The landlords can write off the losses but there is nothing to help families absorb the hit but thats supposed to be ok?

Honestly, right now the ONLY people I care about are regular everyday people and whoever helps them most I am behind 100% and that's all there is to it.

I’m okay with not being able to break a lease, these are businesses with employees to pay, it’s not costing any more money that I planned on spending having my daughter live in the apartment and take online classes vs. in person classes. We signed a binding legal contract, the off campus rentals aren’t part of the university. It’s a real college town with tons of shops, restaurants and bars, I’m sure they want the students back spending money.

 

[LuvOrlando]

It's great that you are ok with burning through 12000 this year in addition to tuition, good for you that you have it to throw away but not all families can blow through that much without hurting their savings. All these families are losing wealth over this, wealth they could be putting towards their own well being and into helping their kids get a start in life. I would like to know when these schools knew they would be going remote v when they went public. Were they forthcoming immediately or did they keep it quiet until as many local housing contracts as possible were signed? It's not ok to mislead people in order to appease local businessmen and now they are saying that even if the kids are sick let them stay, it's reprehensible.

I get that businesses are built around humans but it's not ok to treat humans like things, people have a right to informed consent. If humans want to make a bad decision WITH informed consent, so be it I am 100% being free will, but if information is known and withheld that is a different thing entirely. I'm not convinced these decisions have been transparent.

 

[EACarlson]

It's great that you are ok with burning through 12000 this year in addition to tuition, good for you that you have it to throw away but not all families can blow through that much without hurting their savings. All these families are losing wealth over this, wealth they could be putting towards their own well being and into helping their kids get a start in life. I would like to know when these schools knew they would be going remote v when they went public. Were they forthcoming immediately or did they keep it quiet until as many local housing contracts as possible were signed? It's not ok to mislead people in order to appease local businessmen and now they are saying that even if the kids are sick let them stay, it's reprehensible.

But it's ok to sign a contract and then not live up to it? As has been said many times in this thread, the majority of these leases were signed at least 6 months ago, if not more. I expect everyone to live up to the obligations they sign up for. There are chances you take when you decide to go to school away from home, choose to live off campus and choose to sign a lease that early. Every action affects someone down the line.

 

[lanejudy]

All these families are losing wealth over this, wealth they could be putting towards their own well being and into helping their kids get a start in life.

Isn’t living off-campus part of helping kids get started on their independent life? I think if you take that focus, it’ll be easier to accept. Teach your kids about financial obligations and commitments, how to adjust and mansge when life turns upside down. They are learning and taking their cues from you.

Unless the off-campus apartment is school-owned, there is no reason to believe decisions about in-person classes was made on any connection with leases.

 

[monsterkitty]

I would also think that not fulfilling the contract of the lease would hurt the student's credit scores. The landlords could also take the student to court for breach of contract.

Even if students are not attending in-person classes, being in their own apartment is starting them on an independent life. It's also hopefully teaching the student responsibility by not attending campus parties or gathering in large groups.

 

[okeydokey]

It's great that you are ok with burning through 12000 this year in addition to tuition, good for you that you have it to throw away but not all families can blow through that much without hurting their savings. All these families are losing wealth over this, wealth they could be putting towards their own well being and into helping their kids get a start in life. I would like to know when these schools knew they would be going remote v when they went public. Were they forthcoming immediately or did they keep it quiet until as many local housing contracts as possible were signed? It's not ok to mislead people in order to appease local businessmen and now they are saying that even if the kids are sick let them stay, it's reprehensible.

I get that businesses are built around humans but it's not ok to treat humans like things, people have a right to informed consent. If humans want to make a bad decision WITH informed consent, so be it I am 100% being free will, but if information is known and withheld that is a different thing entirely. I'm not convinced these decisions have been transparent.

The big apartment complexes that are run by large corporations start the hard push for students to resign for the next calendar year beginning almost as soon as they move in in August. They tell them they can't guarantee their spot next year unless they sign in Sept or Oct. Last Sept or Oct nobody knew this was coming.

My son's University gave kids a chance to get out of on campus housing contracts for no penalty and I appreciate that.

 

[LuvOrlando]

I don't think anyone is advocating breaking leases, I am certainly not and paid my daughters full year through July even though she was gone by March but that's not the only questionable moral issue in play. There is the other side of it made up by those who profit when the kids are on site. There is soooooo much money in the college student industry that it's hard to believe those dollars aren't a big part of any conversation taking place over what to do.

My kids went away so in some ways it's good for them but for independence, the kids aren't paying for apartments, unless they have trust funds it is their families paying so there is nothing independant about it at all.

 

[sk!mom]

It's great that you are ok with burning through 12000 this year in addition to tuition, good for you that you have it to throw away but not all families can blow through that much without hurting their savings. All these families are losing wealth over this, wealth they could be putting towards their own well being and into helping their kids get a start in life. I would like to know when these schools knew they would be going remote v when they went public. Were they forthcoming immediately or did they keep it quiet until as many local housing contracts as possible were signed? It's not ok to mislead people in order to appease local businessmen and now they are saying that even if the kids are sick let them stay, it's reprehensible.

I get that businesses are built around humans but it's not ok to treat humans like things, people have a right to informed consent. If humans want to make a bad decision WITH informed consent, so be it I am 100% being free will, but if information is known and withheld that is a different thing entirely. I'm not convinced these decisions have been transparent.

Wow, that is quite an attack. When my kids were in college, the money was set aside and budgeted to pay for the four years. Leases in my DD's college town were normally signed the previous fall. As is the case in every college town I'm familiar with. Those who waited until spring had very little choice if they could find a place at all.

Most of these apartments are not affiliated with the school. I. too, would have sent my DD back to at least be able to be with friends/roommates and feel that she was "at school.' I think being back in her childhood bedroom trying to work online without the support of friends in the house doing the same would have been very depressing but my DD's only extended period at home after starting college was the summer after freshman year. After that, we had a year long lease so she stayed over the summer and had internships in the metro area of her school. Prepare yourself, my DD graduated in early May of 2018 and moved 300 miles to another city for a job. She couldn't pay two rents so dear old mom and dad finished out the college town lease while she started her adult life and paid her own bills.

As far as some conspiracy between the colleges and apartments, my DH works for a college. Trust me, or not, but the colleges are well aware that they need every possible class to be in person. Some colleges won't survive if kids stay home or take a semester/year off. Decisions were delayed until the last moment due to holding out hope that classes could be as normal as possible.

As I said earlier, if your circumstances are such that paying the lease is a true hardship then ask to be released from it. Due to the pandemic, you might get lucky. If not, then break it. Just be aware that next year, your student may not find anyone willing to rent to him.

 

[mjkacmom]

I don't think anyone is advocating breaking leases, I am certainly not and paid my daughters full year through July even though she was gone by March but that's not the only questionable moral issue in play. There is the other side of it made up by those who profit when the kids are on site. There is soooooo much money in the college student industry that it's hard to believe those dollars aren't a big part of any conversation taking place over what to do.

My kids went away so in some ways it's good for them but for independence, the kids aren't paying for apartments, unless they have trust funds it is their families paying so there is nothing independant about it at all.

Dd24 and ds22 paid their rent 100% junior and senior years in college, dd21 just dropped off her $2100 rent check yesterday, she already paid $2100 in May. She spent the summer in NY as a hostess since they have indoor seating and our state doesn’t (plus the restaurant was lakefront with tons of outdoor seating). She got a job on campus as a peer mentor and will probably try to find a restaurant job, plus has a 4 year local scholarship of $1500 a year. Dd24 waitressed, ds22 worked at his university’s athletic intramural sports department making schedules and at a local garden center there (he had worked at one here since he was 14).

 

[LuvOrlando]

Wow, that is quite an attack. When my kids were in college, the money was set aside and budgeted to pay for the four years. Leases in my DD's college town were normally signed the previous fall. As is the case in every college town I'm familiar with. Those who waited until spring had very little choice if they could find a place at all.

Most of these apartments are not affiliated with the school. I. too, would have sent my DD back to at least be able to be with friends/roommates and feel that she was "at school.' I think being back in her childhood bedroom trying to work online without the support of friends in the house doing the same would have been very depressing but my DD's only extended period at home after starting college was the summer after freshman year. After that, we had a year long lease so she stayed over the summer and had internships in the metro area of her school. Prepare yourself, my DD graduated in early May of 2018 and moved 300 miles to another city for a job. She couldn't pay two rents so dear old mom and dad finished out the college town lease while she started her adult life and paid her own bills.

As far as some conspiracy between the colleges and apartments, my DH works for a college. Trust me, or not, but the colleges are well aware that they need every possible class to be in person. Some colleges won't survive if kids stay home or take a semester/year off. Decisions were delayed until the last moment due to holding out hope that classes could be as normal as possible.

As I said earlier, if your circumstances are such that paying the lease is a true hardship then ask to be released from it. Due to the pandemic, you might get lucky. If not, then break it. Just be aware that next year, your student may not find anyone willing to rent to him.

I don't see any attack in facts so not sure what that's about but you also seem to be paying for your kids so I don't get what you are saying.

Just because the local businesses aren't "affiliated" or owned by a school doesn't mean there isn't a symbiosis.

mjkacmom that's awesome, so you wouldn't be bothered by your kids spending all their hard earned money and then having remote classes from their very expensive apartments because the school waited until the last possible moment to tell your kid they went remote?

 

[sk!mom]

I don't think anyone is advocating breaking leases, I am certainly not and paid my daughters full year through July even though she was gone by March but that's not the only questionable moral issue in play. There is the other side of it made up by those who profit when the kids are on site. There is soooooo much money in the college student industry that it's hard to believe those dollars aren't a big part of any conversation taking place over what to do.

My kids went away so in some ways it's good for them but for independence, the kids aren't paying for apartments, unless they have trust funds it is their families paying so there is nothing independant about it at all.

"Questionable moral issue"?? You lost me. I get that you are furious to have to pay a lease when your student is choosing to stay at home but who is showing questionable morals? If I have a restaurant, or bar, or rental property in a college town then my livelihood has likely been destroyed by this pandemic with no end in sight. I live in a college town and I see the businesses that are starting to close forever after 6 months of interrupted diminished business. It's tough for everyone and maybe I'm just choosing to see the good but I don't think most people are out to take advantage. We're all just trying to survive as best we can.

 

[sk!mom]

I don't see any attack in facts so not sure what that's about but you also seem to be paying for your kids so I don't get what you are saying.

Just because the local businesses aren't "affiliated" or owned by a school doesn't mean there isn't a symbiosis.

mjkacmom that's awesome, so you wouldn't be bothered by your kids spending all their hard earned money and then having remote classes from their very expensive apartments because the school waited until the last possible moment to tell your kid they went remote?

"It's great that you are ok with burning through 12000 this year in addition to tuition, good for you that you have it to throw away but not all families can blow through that much without hurting their savings."

That was the comment that seemed like an attack on another poster. Yes, I paid for my kids college. My youngest graduated in 2018. I get the frustrations and tough decisions of 2020. DH and I have said often that we are so glad that our kids are grown and on their own.

 

[mjkacmom]

I don't see any attack in facts so not sure what that's about but you also seem to be paying for your kids so I don't get what you are saying.

Just because the local businesses aren't "affiliated" or owned by a school doesn't mean there isn't a symbiosis.

mjkacmom that's awesome, so you wouldn't be bothered by your kids spending all their hard earned money and then having remote classes from their very expensive apartments because the school waited until the last possible moment to tell your kid they went remote?

It wouldn’t have mattered when we were told, lease signed in october, decision made by UD the end of July. Heck if they told us in March it wouldn’t have made any difference, the lease was signed. When Dd came home in March, she said she was going back to her apartment this semester no matter what, she had to pay regardless.

 

[okeydokey]

I don't see any attack in facts so not sure what that's about but you also seem to be paying for your kids so I don't get what you are saying.

Just because the local businesses aren't "affiliated" or owned by a school doesn't mean there isn't a symbiosis.

mjkacmom that's awesome, so you wouldn't be bothered by your kids spending all their hard earned money and then having remote classes from their very expensive apartments because the school waited until the last possible moment to tell your kid they went remote?

Not the poster you asked, but no, I would not have a problem with my kid paying rent when their classes are remote. The end goal is to create competent adults who can move into the world independently of us. Living on their own and taking remote classes is great for them, just as living on their own and taking face to face classes is great for them.

 

[Colleen27]

Just because the local businesses aren't "affiliated" or owned by a school doesn't mean there isn't a symbiosis.

And that symbiosis is a real problem in some college towns. The U of M student newspaper (which is independent of the university) had a scathing article about the campus reopening and the real estate interests of several members of the Board of Regents who voted to reopen over the objections of faculty. I don't really have a strong opinion about whether they should or shouldn't be reopening, but I think it is entirely fair to say that board members who own multiple rental properties, in one case millions of dollars worth, in a market that depends almost entirely on the student population may not be casting their votes with the best interests of the students or the university in mind.

 

[KittyKitty]

Another replied, "True, but at least we are around people other than our families!"

Funny!! I like that.