Forgiveness vs Payment Plans vs Tapping into security deposits?

[John Kim]

How are you handling tenants who cant pay the next few months?

• Forgiveness
• Payment Plans
• Tapping into Security deposits
• Other?

Which route are you taking and why?

[Bjorn Ahlblad]

@John Kim first of all many places won't allow taking security deposits to cover rent. All my tenants paid! For any upcoming situations I would do a payment plan that works for the tenant, having them pay some money now and tack the rest on later knowing that I might never see that money. I don't have any other creative ideas. Only a few of my tenants are vulnerable. Many work in the school system, health care, municipal workers, unionized employees. So they either get paid, work remotely etc. I also have some retired people who are unaffected. Feel very lucky.