Government Shut Down Affecting Rent Payments

[Cedric Van Duyn]

Hi BP Landlords, I have a military tenant and he just called to say that his February rent will be paid “as soon as the Government Shut Down is over.” What is the best way to handle this situation, especially as there is no way to know how long the shut down will last and it could be months? Thank you for any advice!

[Nathan Gesner]

Don't buy it. Financial obligations do not stop simply because the employer isn't paying. Would you waive rent if he lost his job? Of course not. Mortgage, insurance, car loan, cell phone, and utilities will all expect to be paid regardless of what is happening with your job.

Treat it like a business.