Any help to our tenants?

Question

Hello everybody, what is the reasonable response to the challenges of the current situation?  Some tenants may be affected in a negative way.  I heard some landlords sent toilet paper, some decided to not increase the rent this year.  What else could we do to help our tenants and our businesses?  Thank you

JD Martin · Answer

I think the reasonable response is to do nothing unless something needs to be done. If a tenant says they are temporarily furloughed because of the virus and short on money, you will have to make a judgment call on how to proceed, knowing that courts will probably not look favorably on you in an eviction hearing. Not that their failure to plan is your fault, but things are what they are.

Beyond that, I wouldn't take any action that's unnecessary. The prudent thing to do from a landlord point of view is preserve cash that doesn't need to be spent.

Jane A. · Answer

@JD Martin I was thinking the same, thank you :)

Jane A. · Answer

I decided to handle it case by case based on tenants' requests.  Many get unemployment benefits and happy to have some time off.  Some companies are actively hiring for a delivery business.  If people get a car with a loan, the do not expect the loan amount will be reduced, but they could ask for a payment plan. In rental, we could offer waived late fees and payment plans if requested and necessary.

Theresa Harris · Answer

I think it depends on the situation both in terms of the tenant and the landlord.  If the tenant has problems, they need to be honest and approach the landlord sooner rather than later.

Karen F. · Answer

A couple of months ago, I realized that what had happened in China was likely to happen here, too.  Aside from it being inhumane, no court is going to allow an eviction for non-payment during a lockdown, when tenants have no work!  So I warned that landlords of working class tenants better build up cash reserves.

Our game plan, when the tenants cannot pay, is to carry them, and have them pay 110% every month, once they're able to get back to work, understanding that if the lockdown lasts three months, it may take them two to three years to get back into good standing.  There is no alternative.  Most of these will be good, paying tenants who have been with us for several years, some for a decade.  We cannot evict them, and besides, the courts are not processing evictions anyway!

Pat L. · Answer

I like our girl.

Went to change the faucet in her unit. She has been with us 3 years & always paid on-time, sometimes in advance. But she now has a new boyfriend & she tells me "he has a betterJOB than my ex-husband".  She's now interested in a larger more expensive unit that will be vacant next month !!!

Jane A. · Answer

@David Avetisyan :))) great point

David Avetisyan · Answer

You can always waive rents and send everyone a 100 dollar gift card and consider adding me on that list.

I’m sure you would be the landlord of the year!

Any help to our tenants?

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