The IRS is on a mission to destroy the a respectable group of business people: the mom and pop landlords. Throughout the pandemic, small landlords were forced into impossible situations. We weren’t allowed to collect rent or evict tenants who stopped paying, yet we were still required to maintain the properties they were living in. And now, as if that wasn’t enough, the IRS is adding insult to injury by denying us the ability to write off repairs to properties that didn’t generate any income. This is an outrageous attack on small landlords who are just trying to survive.
The Pandemic Nightmare
When COVID-19 hit, we understood that people were struggling. Many of us worked with our tenants, offering deferments, payment plans, and even reductions in rent. But then the government stepped in, imposing blanket eviction moratoriums that left us with no recourse when tenants simply stopped paying. We were expected to shoulder the burden alone, maintaining properties out of our own pockets while receiving no income.
It’s not like we could just walk away from these properties. We still had to pay mortgages, property taxes, insurance, and utilities. Maintenance didn’t stop either. Roofs still leaked, plumbing still broke, and lawns still needed to be mowed. The costs kept piling up, and yet our revenue was slashed to nothing. We were left scrambling, trying to make ends meet while our own financial stability was at risk.
The IRS’s Latest Attack
As if dealing with non-paying tenants and skyrocketing maintenance costs wasn’t enough, the IRS has decided to twist the knife even further. Now, they’re refusing to let us write off repairs on properties that didn’t generate income. This is a slap in the face to every small landlord who has fought tooth and nail to keep their properties in decent condition during one of the most challenging periods in recent history.
These repairs aren’t optional; they’re necessary. We have a legal and ethical responsibility to ensure our properties are safe and habitable. But the IRS’s stance means we’re being punished for doing the right thing. It’s an absurd and cruel policy that completely disregards the reality of what we’ve been through.
The Hypocrisy and Injustice
What makes this even more infuriating is the hypocrisy. Large corporate landlords and real estate investment trusts (REITs) are often given more leeway and financial assistance, while small landlords are left to fend for ourselves. We don’t have the luxury of deep pockets or access to high-priced legal teams to navigate these unfair policies.
We understand that landlords are often viewed unfavorably, but let’s not ignore the crucial role we play. We fix up small houses, making them livable and maintaining the housing stock. Without us, many of these properties would fall into disrepair, creating blight and reducing the quality of life in neighborhoods. We are imperative to maintaining and improving the housing landscape.
The Tax Burden
After paying property taxes, state taxes, and federal taxes, this new IRS change means that we, as Americans, effectively paid 44% of our income to house people for free. It’s an outrageous and unsustainable burden. We’re being forced to subsidize housing at the cost of our own financial well-being, all while the IRS tightens the screws further. This isn’t just unfair — it’s economic madness.
The Retirement Crisis
With the volatility of the stock market, many individuals have turned to real estate as a more stable retirement plan. Small rental properties have become a crucial part of retirement strategies for countless Americans who are looking for a reliable source of income in their golden years. But now, the IRS’s draconian policies are threatening to undermine this vital financial safety net. It’s not just about today’s income; it’s about the security and peace of mind for the future.
Demand for Fair Treatment
We demand fair treatment from the IRS. The pandemic has shown the critical need for policies that support, not punish, small landlords. We need the ability to write off our legitimate expenses, especially when we’ve been forced to operate at a loss. It’s time for the IRS to recognize the invaluable role that mom and pop landlords play and to stop treating us like cash cows to be milked dry.
Enough is enough. We refuse to be scapegoats for failed policies and bureaucratic indifference. It’s time for the IRS to stop its war on small landlords and start supporting the people who are truly keeping our housing market functional.
This is more than just a financial issue; it’s about basic fairness and respect. Small landlords deserve better, and it’s time for our voices to be heard. Let’s stand together and demand the justice we deserve.
