Investor · Chicago, IL · Member since 2014 · 64 posts · 8 votes
I have several units in Chicago and tenants are reaching out to me that they are not working and are looking for support. I know this is a tough time and we are in this together. How do I respond to tenants and is there a support for tenants to pay rent from City of Chicago or from the state. What advice can I give the tenants and how are you responding to tenants?
It is very important that we all understand that this situation WILL affect someone around you, whether it be a family member or a tenant, and to be as helpful and kind as possible. Karma is real. Here is the letter I sent out to my tenants in Chicago last week, feel free to use any bits that strike a cord with you---
"Hi everyone, I wanted to touch base with each and every one of you, and encourage an open line of communication through these unprecedented times. First and foremost, I hope everyone is staying sane and healthy, we may be quarantined for some time but this could be an amazing space to reset, reflect and recharge from the fast paced city life that we have become accustomed to. I hope your employer or clients are understanding and able to keep you employed and in business. Most may be ok through these troubled times, but some may not be as fortunate. We are normal people too and want to work with you as best as we can to soften any potential hardships. Rent is still due. We still have to pay our mortgage, taxes, insurance, and utilities to maintain the building and to keep your home feeling like home. We aren't a large multinational corporation with massive reserves and big cushions to fall back on, but we are human beings that have empathy for a situation that no one alive has ever been through. We are keeping our eyes on programs that the government is designing to help individuals, especially tenants, to get through these hardships. This is a rapidly changing time, so we are going to stay up to date on what our government plans to do, and will make sure to keep you updated with any programs that become available. At this time, small maintenance requests will be put on hold, but of course if anything big needs to be attended to our maintenance is still available. I am always available to connect and talk through your individual situation, as each person may be living through different experience. You can call or text me anytime on my cell, I'm here as a resource and to help you get through anything at all. This will be a moment of time that will be written about for decades, and it is important to remember that we are all in this together. We as humans can and will evolve to adapt to our new realities and I'm confident that we will get out on the other end stronger and greater than ever before.
@Zulf H., you call the tenants back, explain to them that you are not allowed not to pay your mortgage, property tax, insurance, and utility bills and advise them to call 311 as the city of Chicago has a program to help the people affected by the Virus. They'll have to provide documentation that they lost their jobs of course and apply for the relief with the city and the city will help them pay their rent.
Also, hopefully, they are receiving soon money from the government, that money is also given to help with their rent and bills.
The problem with pushing rent payments or mortgage payments for 3 months is that they are all due the 4th month all in full, so how will they pay in month 4 - 4 rent payments?
I have several units in Chicago and tenants are reaching out to me that they are not working and are looking for support. I know this is a tough time and we are in this together. How do I respond to tenants and is there a support for tenants to pay rent from City of Chicago or from the state. What advice can I give the tenants and how are you responding to tenants?
All my properties are in the Chicago, IL area.
Thank You
ZH.
Here is a good resource. There is also a grant program via lottery system but the deadline to apply was yesterday
It is very important that we all understand that this situation WILL affect someone around you, whether it be a family member or a tenant, and to be as helpful and kind as possible. Karma is real. Here is the letter I sent out to my tenants in Chicago last week, feel free to use any bits that strike a cord with you---
"Hi everyone, I wanted to touch base with each and every one of you, and encourage an open line of communication through these unprecedented times. First and foremost, I hope everyone is staying sane and healthy, we may be quarantined for some time but this could be an amazing space to reset, reflect and recharge from the fast paced city life that we have become accustomed to. I hope your employer or clients are understanding and able to keep you employed and in business. Most may be ok through these troubled times, but some may not be as fortunate. We are normal people too and want to work with you as best as we can to soften any potential hardships. Rent is still due. We still have to pay our mortgage, taxes, insurance, and utilities to maintain the building and to keep your home feeling like home. We aren't a large multinational corporation with massive reserves and big cushions to fall back on, but we are human beings that have empathy for a situation that no one alive has ever been through. We are keeping our eyes on programs that the government is designing to help individuals, especially tenants, to get through these hardships. This is a rapidly changing time, so we are going to stay up to date on what our government plans to do, and will make sure to keep you updated with any programs that become available. At this time, small maintenance requests will be put on hold, but of course if anything big needs to be attended to our maintenance is still available. I am always available to connect and talk through your individual situation, as each person may be living through different experience. You can call or text me anytime on my cell, I'm here as a resource and to help you get through anything at all. This will be a moment of time that will be written about for decades, and it is important to remember that we are all in this together. We as humans can and will evolve to adapt to our new realities and I'm confident that we will get out on the other end stronger and greater than ever before.
If they are not working due to COVId-19, they can file for unemployment benefits. There are other programs that exist as well for rent support. Focus on helping them get the money to pay you before exploring alternative options.
@John Casmon I couldn't agree more with you about being helpful and kind during these tough times as everything is affected one way or another. The letter you sent is a great start for those who don't know how to manage the situation and need guidance. Thank you for sharing.
@Zulf H. - In the good times and the bad I keep a running list of job opportunities I see, temp agencies, gig jobs for supplemental income, local resources (rent assistance, food assistance, etc), and anything else I think may be beneficial. I use a Google Doc so I can just send a quick text message for them to be able to view it and then I am able to update it on the fly.
@Zulf H.-Hello Zulf, I have a tenant who works in the food industry so knowing how this would affect his job, I reached to him and offered him a deal. I am allowing him to short pay rent by $300 for 3 months. He was very appreciative and in three months we will sit down with a follow up plan.
If they stopped paying, some recommend you serve them a notice.