Have your delinquent tenants started to pay?

5 Replies

Unemployment checks should be rolling out, if they haven't already. Have your delinquent tenants started to make good on rent? Are they at least making payments? If not making payments, are they at lease communicating with you?

I'm still hearing from tenants that have not received their first unemployment check so we're just staying in touch with them and waiting patiently. The money will get here, eventually.

Originally posted by @Peter Johnson:
Originally posted by @Nathan G.:

Unemployment checks should be rolling out, if they haven't already. Have your delinquent tenants started to make good on rent? Are they at least making payments? If not making payments, are they at lease communicating with you?

I'm still hearing from tenants that have not received their first unemployment check so we're just staying in touch with them and waiting patiently. The money will get here, eventually.

Unemployment checks. Hmmm, pay rent or eat? Eat or pay rent? I wonder what they'll do.

Well, unemployment checks will be bumped up $600 per week so that's an extra $2,400 a month. I'm thinking the overwhelming majority of unemployed renters can afford to eat and pay rent.

 

Our collections are down about 20% in April.  Our team is in friendly contact with those tenants and most have worked out payments.  We also send out "how are you holding up during the quarantine?" emails to all tenants, just to let them know we are all in it together.

Since we cannot complete a normal collections procedure up to and including eviction, it's better to show 'kindness' -- but we let them know that this is a temporary situation and the rent is not forgiven and must be made up.