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Updated about 5 years ago on .

User Stats

41
Posts
11
Votes
Joe Delgrosso
11
Votes |
41
Posts

How to handle new leases during this recession?

Joe Delgrosso
Posted

As this virus/recession is beginning to unfold, we all know the risks with tenants not being able to pay rent. I have most of my leases expiring in May and June...would love to get everyone’s thoughts on how to protect a new lease agreement given the state of everything and how hard it is to evict someone.

Yes I look forward to helping my tenants any way I can if it’s a short term situation, but I can’t financially do that over the long term. Imagine a tenant moving in, they say they can’t pay and then you can’t evict them for another 11 months.

Are there provisions I can legally add to the agreement? I usually do a first month and security deposit. Maybe I should do a first, last and security deposit?