I'd love to get a rental right now but I'm hesitant because Oregon has a very tenant-friendly rent moratorium in place. Does anyone have experience with this on how we can protect ourselves as landlords?
My understanding is that tenants can use the moratorium for 6 months and then they have to "catch up" on the rent. It seems unlikely that they could ever come up with a lump sum to pay back 6 months of rent. What's to stop them from just walking away with the landlord holding the bag?
Hi @Allie Dickson , correct there are some disadvantages right now. However, these moratoriums are winding down. If the tenant is currently paying, chances are they will continue to pay. But to answer your question, there is nothing to stop the tenant from walking away. You could go after them for the money if you want and that on their credit report until paid off.
My best advice is to get proof that tenants are paying on the property you are looking to close on.
Thanks you for your input, Brad. I'm hoping our state will end these moratoriums soon.
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