Tenants denied rent relief, as Trump Organization seeks rent relief

Tenants denied rent relief, as Trump Organization seeks rent relief

Trump Organization seeks rent relief as millions suffer and can’t pay the rent

By Lynda Carson - May 19, 2020

Oakland - The double-dealing multi-billion dollar criminal Trump Organization that has repeatedly been in violation of the emoluments clause and has many conflicts of interest issues with its operations is in financial trouble, and the Trump Organization is seeking rent relief for its Trump International Hotel, in Washington, D.C.

However, the General Services Administration (GSA), has declined to cooperate with Congress in regards to questions it has about the Trump Organization’s request for rent relief.

According to this report, “Eric Trump, the president’s son, confirmed that the company had opened a conversation about possible changes to the terms of the lease, which could include adjustments to future monthly payments.” The President’s son sought to frame the Trump Organization’s request for financial relief as one from any other struggling American business and to “just treat us the same.”

This is occurring in the midst of the coronavirus Covid-19 pandemic while millions of people are requesting, but being denied rent relief locally, and all across the nation after being laid off from their jobs, and being ordered to remain at home under shelter-in-place orders because of the coronavirus Covid-19 pandemic.

#CancelRent Movement Leaders Unveiled A #MakeThemPay Report:

Meanwhile, in a release today from ACCE, in part it reads, “Today, on a press call, #CancelRent movement leaders unveiled a #MakeThemPay report  https://acrecampaigns.org/research_post/make-them-pay/ and announced a national day of action planned for May 22 targeting corporate landlords. 
 
They discussed why Congress and states must make corporate landlords pay for the cancellation of rent, mortgages, and utilities for the duration of the COVID-19 pandemic, along with financial relief to smaller property owners who may soon face foreclosure.
 
Speakers included tenants, property owners, small business owners, and policy experts who are helping to build and lead the #CancelRent movement as it gains momentum across the country. Organizations represented on the press call included Action Center on Race and the Economy (ACRE), Alliance of Californians for Community Empowerment (ACCE), New York Communities for Change (NYCC), and PUSH Buffalo.
 
The wealthiest corporations that dominate the real-estate industry are sitting on an estimated $470 billion, while low-income communities of color hit hardest by COVID-19 struggle to survive and pay monthly housing expenses, according to the #MakeThemPay report https://acrecampaigns.org/research_post/make-them-pay/ , which was released today by the Action Center on Race & the Economy (ACRE).
 
Corporate landlords include large, well-known entities like Kushner Companies, Blackstone, Related, Equity Residential, Essex, Starwood Capital, CBRE, Irvine Company, and Mosser Capital.
 
#MakeThemPay actions against corporate landlords on May 22 will kick off a week of escalation toward June 1, when the next wave of rent strikes will happen nationally.
 
In the days ahead, the We Strike Together  http://www.westriketogether.org website will highlight both May 22 actions and June 1 rent strikes planned across the country by #CancelRent movement leaders and organizations.”


The Trump Organization Seeks Rent Relief As Millions Are Denied Rent Relief:


In an article today from Government Executive, it goes into detail about the trump Organization seeking rent relief in a story called, “Lawmakers Press GSA on Trump Hotel’s Request for Financial Relief During Pandemic.”


Additionally, the Wall Street Journal reported that the Trump properties are losing more than a million dollars per day, and according to Vanity Fair, “Thus far, the Trump Organization, run by the president’s adult sons, Eric and Donald Trump Jr., have closed properties in Doral, Florida, Las Vegas, Ireland, Scotland, Bedminster, New Jersey, and Palm Beach, Florida, the home of Mar-a-Lago. According to the Post, those hotels and clubs represent six of Trump’s top revenue-producing businesses, bringing in about a collective $174 million per year, or $478,000 per day. Additionally, 160 employees have been laid off at the president’s Constitution-violating D.C. hotel, while 51 have been laid off at his New York hotel and an unknown number at his Vegas property.”

An April 23, 2020, letter to Emily Murphy, Administrator of the General Services Administration (GSA), sheds some light on this situation, and in part it reads, “according to media reports, the Trump Organization has made inquiries to GSA regarding its lease payment obligations and as part of this is discussing potential relief including delays of future rent payments. Last April, it was announced that the Trump International Hotel laid off or furloughed over 230 employees, and more than 1,500 people nationwide have been laid off or furloughed from Trump properties.

For example, the Trump International Hotel is ineligible for the $500 billion in loans administered by the U.S. Department of Treasury under a conflict of interest provision in the CARES Act, which bars businesses directly or indirectly controlled by the President, Vice President, head of an Executive Department, Member of Congress and their spouse, child, son-in-law, or daughter-in-law from being eligible for Department of Treasury loans. Any companies applying for loans must certify that the entity is eligible. A “controlling interest” is defined as 20 percent equity interest and “equity” is defined as including “an interest in a limited liability company or of a limited partner in a limited partnership.” President Trump currently holds an almost 80 percent ownership interest in the hotel. This too is a clear indication of the conflict of interest issues at issue here. Within the private sector, landlords are asking businesses to demonstrate proof of hardship before providing financial relief due to the economic fallout of the coronavirus. Within government programs, we, as Members of Congress, have been urging the Federal government to prioritize assisting businesses that are seeking to retain their employees and have few, if any,other options for financial relief. As stated above, to date, the Trump International Hotel has laid off or furloughed over 230 employees, and the Trump Organization has not indicated that benefits from the rental abatement would be used to bring back employees.”

Thats right, the Trump International Hotel has laid off or furloughed over 230 employees, and the double-dealing Trump Organization has not indicated that benefits from the rental abatement they are seeking would be used to bring back employees.

More information about the #CancelRent Campaign may be found by clicking here.

Lynda Carson may be reached at tenantsrule [at] yahoo.com

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