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Updated over 5 years ago on . Most recent reply

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Wenliang Fu
  • Investor
  • Columbus, OH
1
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Have question regarding covid-19 in Ohio, relief package?

Wenliang Fu
  • Investor
  • Columbus, OH
Posted

Hello,

Long time reader and first time poster, first I'd like to Thank everyone for reading. 

Im a small time landlord in the Ohio area, with the governor issuing new closures everyday and recommending social distancing I noticed a dip in amount of showings that I have been able to sign up. With how everthing is going, I'm taking more pictures but interest is dying. We will have multiple properties becoming vacant at end of this month and I'm worried it will take a long time to get them rented but at the same time I have not heard any concrete plans to relief landlords via state programs. 

This is is going to be a tough few months considering I still have workers who depend on their pays and bills to pay for 

My questions are:

1.  With the decrease in showings and perhaps an eventual order to stop them completely, what are your plans and actions? 

2.  If state orders us to shut down renovations, my workers been statutory, are they eligible for unemployment in the current emergency rules, has anyone dealt with this in Ohio? 

3. With evictions been banned, has anyone recieved financial help from the state to remedy the lost income? 

4.  There is a federal sba loan up to 2 million dollars has anyone tried to access this fund to help with bills? What are the terms and interest like? And if you could, if you succeeded, how much were you able to get? 

5. And anything else you can think of that is helpful 

Thank you very much! - wen

Most Popular Reply

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Remington Lyman
#5 Out of State Investing Contributor
  • Real Estate Agent
  • Columbus, OH
6,756
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Remington Lyman
#5 Out of State Investing Contributor
  • Real Estate Agent
  • Columbus, OH
Replied
Originally posted by @Wenliang Fu:

Hello,

Long time reader and first time poster, first I'd like to Thank everyone for reading. 

Im a small time landlord in the Ohio area, with the governor issuing new closures everyday and recommending social distancing I noticed a dip in amount of showings that I have been able to sign up. With how everthing is going, I'm taking more pictures but interest is dying. We will have multiple properties becoming vacant at end of this month and I'm worried it will take a long time to get them rented but at the same time I have not heard any concrete plans to relief landlords via state programs. 

This is is going to be a tough few months considering I still have workers who depend on their pays and bills to pay for 

My questions are:

1.  With the decrease in showings and perhaps an eventual order to stop them completely, what are your plans and actions? 

2.  If state orders us to shut down renovations, my workers been statutory, are they eligible for unemployment in the current emergency rules, has anyone dealt with this in Ohio? 

3. With evictions been banned, has anyone recieved financial help from the state to remedy the lost income? 

4.  There is a federal sba loan up to 2 million dollars has anyone tried to access this fund to help with bills? What are the terms and interest like? And if you could, if you succeeded, how much were you able to get? 

5. And anything else you can think of that is helpful 

Thank you very much! - wen

 I have seen a decline in showings as well. I assume everyone is holding off and staying in their current dwelling. I, fortunately, have a 90% occupancy right now (should be 100% but I ran into some issues with a tenant). I am getting worried about my leases ending July 31st.

  • Remington Lyman
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