Australian Politics Forum - Billionaire landlord stands firm on rents

greggerypeccary

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Billionaire landlord stands firm on rents
Mar 31^st, 2020 at 1:42pm

A self-made billionaire, who is one of Australia's biggest private landlords, has defended asking some of his commercial tenants to keep paying rent, saying he should not be made a "scapegoat" for the coronavirus-driven economic crisis if those tenants have been successful.

John Van Lieshout has declined to extend rent relief to all businesses across his $1 billion-plus property portfolio.

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chimera Gold Member Online Australian Politics Posts: 14308 Armidale Gender:	Re: Billionaire landlord stands firm on rents Reply #1 - Mar 31^st, 2020 at 2:06pm Fair enough , he's budgeted to the max , has to pay for paint and doorknobs , why should he go under?
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Gordon

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Re: Billionaire landlord stands firm on rents
Reply #2 - Mar 31^st, 2020 at 2:14pm

ABC's headline does not reflect it's own article.

Mr Van Lieshout said he was considering requests for rent relief but would not commit until he knew what the Government was doing.

But he said he would help those in distress
, depending on their size and length of time trading.

"I've got some tenants that have only started you know, a beauty salon for 12 months," Mr Van Lieshout said.

"Some of those people I'm going to be very kind to because I know that they cannot possibly [pay] because the Government's closed it down completely.

But the thing is, take a tenant that has a good business that's been in business for 10 or 15 years, say he has a holiday home, he drives a nice Mercedes, and he has money in the bank," he said.

"This [the coronavirus pandemic] happens suddenly — I think he has a moral obligation first to use some of his own capital.

"He might be paying $100,000-a-year rent and for three months, a quarter, he has to dip in his pocket for $25,000 of his own money instead of coming to me and saying, 'How about you put up this money for me?'

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minarchist

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Re: Billionaire landlord stands firm on rents
Reply #3 - Mar 31^st, 2020 at 2:28pm

There are numerous stories of landlords increasing rents of commercial properties whenever there is an increase in their revenues. It wouldn't surprise me if this landlord is one such example.

When you also consider that 60% of businesses fail within the first three years, I also question his claim that "a lot" of his clients are wealthy and driving Mercedes'. So I can't sympathise with him when he's crying poor while he stands in front of his mansion in Indooroopilly. I may be pro capitalist but I'm also anti a#$hole. There's no point s#!tting over your tenants when you factor the circumstances we're in. He's naive to think he can kick out all these non paying tenants and find readily available replacements once the Crisis is over, because more than likely this Crisis is the trigger for the recession that we've been waiting for so long to occur.

He knows he has the upper hand and he just wants to be a d!(k about it to the people who have the most to lose. If he gave his tenants a reprieve, he can go to the bank and be d!(ks to them instead: "Look mate, you have to admit that these are extraordinary circumstances, so hows about refinancing those loans? Otherwise, you can foreclose on the lot and get 20 cents on the dollars, hows that sound?"

It's common sense that even those on the lower end of the IQ spectrum can understand - when a business isn't earning anything, it can't pay for anything, let alone rent.

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People accuse Capitalism of being a "dog eat dog" system, yet it was the Communists who ate each other when they were starving!

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Redmond Neck Gold Member Offline OzPolitic Posts: 22859 ACT Gender:	Re: Billionaire landlord stands firm on rents Reply #4 - Mar 31^st, 2020 at 2:36pm chimera wrote on Mar 31^st, 2020 at 2:06pm: Fair enough , he's budgeted to the max , has to pay for paint and doorknobs , why should he go under? Arsehole ???
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chimera Gold Member Online Australian Politics Posts: 14308 Armidale Gender:	Re: Billionaire landlord stands firm on rents Reply #5 - Mar 31^st, 2020 at 4:23pm But yeah the headline is sensational and half true. ABC used to be more careful. Almost f..fa..fak
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Karnal

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Re: Billionaire landlord stands firm on rents
Reply #6 - Mar 31^st, 2020 at 4:32pm

Gordon wrote on Mar 31^st, 2020 at 2:14pm:

ABC's headline does not reflect it's own article.

Mr Van Lieshout said he was considering requests for rent relief but would not commit until he knew what the Government was doing.

But he said he would help those in distress
, depending on their size and length of time trading.

"I've got some tenants that have only started you know, a beauty salon for 12 months," Mr Van Lieshout said.

"Some of those people I'm going to be very kind to because I know that they cannot possibly [pay] because the Government's closed it down completely.

But the thing is, take a tenant that has a good business that's been in business for 10 or 15 years, say he has a holiday home, he drives a nice Mercedes, and he has money in the bank," he said.

"This [the coronavirus pandemic] happens suddenly — I think he has a moral obligation first to use some of his own capital.

"He might be paying $100,000-a-year rent and for three months, a quarter, he has to dip in his pocket for $25,000 of his own money instead of coming to me and saying, 'How about you put up this money for me?'

Stop blowing your own trumpet, Gordon. We all know Chez Gordon's should have been condemned years ago.

One can smell the excrement in Granville. The least you could do is install a functioning toilet.

I've a good mind to rent out Chez Karnal's. Close to all amenities, parking, a prayer hall on the corner. You can even play spot-the-Aussie if the neighbours are out.

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greggerypeccary

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Re: Billionaire landlord stands firm on rents
Reply #7 - Mar 31^st, 2020 at 4:48pm

Gordon wrote on Mar 31^st, 2020 at 2:14pm:

ABC's headline does not reflect it's own article.

You must be reading a different article.

He's standing firm on considering requests for rent relief but will not commit until he knows what the Government is doing.

"Billionaire landlord stands firm on rents".

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chimera Gold Member Online Australian Politics Posts: 14308 Armidale Gender:	Re: Billionaire landlord stands firm on rents Reply #8 - Mar 31^st, 2020 at 4:57pm greggerypeccary wrote on Mar 31^st, 2020 at 4:48pm: He's standing firm on considering requests for rent relief but will not commit until he knows what the Government is doing. The end of the sentence does not match the first bit.
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greggerypeccary

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Re: Billionaire landlord stands firm on rents
Reply #9 - Mar 31^st, 2020 at 4:59pm

chimera wrote on Mar 31^st, 2020 at 4:57pm:

greggerypeccary wrote on Mar 31^st, 2020 at 4:48pm:

He's standing firm on considering requests for rent relief but will not commit until he knows what the Government is doing.

The end of the sentence does not match the first bit.

He's standing firm on considering requests for rent relief, as well as standing firm when saying that he will not commit until he knows what the Government is doing.

The headline is perfect.

It's a perfect headline.

Everyone's saying it.

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Jasin

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Re: Billionaire landlord stands firm on rents
Reply #10 - Mar 31^st, 2020 at 5:22pm

He sounds FAIR for both him and his Tenants who can NOT pay. He is being fair to himself that those Tenants who 'can afford' to pay - continue to do so. But obviously those who can't - don't.

This guy sounds like a decent hard working rich guy who 'earned' his money, not fall into it like a Lottery, an Inheritance and a Crime.

Steal from the evil Rich
and give to the good poor.
Protect the pure Rich
from the bad poor.

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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.

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Sir lastnail

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Re: Billionaire landlord stands firm on rents
Reply #11 - Mar 31^st, 2020 at 5:22pm

greggerypeccary wrote on Mar 31^st, 2020 at 1:42pm:

A self-made billionaire, who is one of Australia's biggest private landlords, has defended asking some of his commercial tenants to keep paying rent, saying he should not be made a "scapegoat" for the coronavirus-driven economic crisis if those tenants have been successful.

John Van Lieshout has declined to extend rent relief to all businesses across his $1 billion-plus property portfolio.

let him have his empty shops and keep paying rates on them.

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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Jasin

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Re: Billionaire landlord stands firm on rents
Reply #12 - Mar 31^st, 2020 at 6:08pm

Sir lastnail wrote on Mar 31^st, 2020 at 5:22pm:

greggerypeccary wrote on Mar 31^st, 2020 at 1:42pm:

A self-made billionaire, who is one of Australia's biggest private landlords, has defended asking some of his commercial tenants to keep paying rent, saying he should not be made a "scapegoat" for the coronavirus-driven economic crisis if those tenants have been successful.

John Van Lieshout has declined to extend rent relief to all businesses across his $1 billion-plus property portfolio.

let him have his empty shops and keep paying rates on them.

Just because they close, doesn't mean they can't afford to pay the Rent.

Neighbour on the left earns $300,000 a year in Business profit. Neighbour on the right was a two-bit shop with minimal profit to just get by.
The Neighbour on the left can more than pay off 3 years worth of rent - without being open for business and should continue to do so.
The Land Lord must also pay 'bills' and run his 'income'.
Why should he scuttle his business by putting a 'blanket' over every tenant?

This is as bad as Rich people still claiming the Dole. Roll Eyes

Make them all pay Rent. But if he can't 'distinguish' those who 'officially' can't - then off with his head then! He must justify a loss because of the Virus. But it need not be a total loss - thanks to those who can 'AFFORD' to pay Rent.

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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.

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Gordon Gold Member Offline Australian Politics Posts: 21660 Gordon Gender:	Re: Billionaire landlord stands firm on rents Reply #13 - Mar 31^st, 2020 at 6:14pm Some of those people I'm going to be very kind to because I know that they cannot possibly [pay] because the Government's closed it down completely.
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Captain Caveman Gold Member Offline Australian Politics Posts: 6211 Gender:	Re: Billionaire landlord stands firm on rents Reply #14 - Mar 31^st, 2020 at 6:19pm He sounds fair. Unless the economy goes on hold then neither do the bills unfortunately. He has outgoings just like everyone else. If this billionaire is expected to just fork out then so should the Rothschilds. Those pricks could pay all our bills for 12 months without even a ripple in their net worth.
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