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Do any of you have tenants who have not been able to pay rent in April? Have you talked to them and offered a modification or offered cash for keys for them to move out?
Unemployment is sky rocketing and will increase is the Covid-19 virus continues in to May and June.
https://www.wsj.com/articles/nearly-a-third-of-u-s-renters-didnt-pay-april-rent-11586340000
Jackie,
I was blessed and got all my rents, but I am losing a tenant next month. Also, the gentlemen I have master leases with just bought another house and will have it ready end of the month for tenants, so I have 2 vacancies on the horizon. It will be interesting to see what the tenant pool is. I’m curious what other people are seeing with the current pool in the economic downturn.
Greghttps://www.zerohedge.com/personal-finance/every-landlord-needs-see-shocking-chart-ahead-may-01
Sounds like May will be worse
Jackie,
I contacted all of my renters I did that a couple of weeks in advance when I could see that the legislature and cities were going to give them a wedge to drive between us.
All of my tenants have been paying a couple have been slow, which is not typical.
I think that contacting the tenant finding out how things are going and telling them about the IRS website was helpful, so that they could get their stimulus and also, know, that I was on their side.
This just shows that if you’re in a pro-tenant area/Democratic area, you need to prove to your tenants that you’re on their side.
My hope is that all landlords are doing well and staying in touch with all of their occupants.
Everyone stays safe,
Dan Butler
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