Hello fellow investors,
I wanted to gauge some of your thoughts on payment deferrment due to covid. I've got one tenant that hasn't paid and I've been using reserves to make my payments. I wanted to see if anyone has requested payment deferrment from their lenders and get your thoughts.
I can continue to pay through my own reserves, but wondering if I'm burning cash when I could just defer.
If anyone has gone the deferred route, I'd love to hear your take on it.
Thanks everyone as always I love your insights.
This is some months after you posted, but maybe it's useful. I had some tenants who were having issues paying on time, and eventually it deteriorated into not paying at all due to the primary income winner getting in a car accident.
They wound up applying for a COVID federal rental assistance program and after about a month I got all the backed rent plus payments moving forward. Not an ideal situation but it certainly lowered everyone's stress level once the money started flowing again.