Are you receiving rents since lockdown?

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Property Manager · Salem, WI · Member since 2020 · 23 posts · 20 votes
6y

Our company in Wisconsin has had to make changes very quickly to keep everything operating smoothly and we have stayed on top of every new development which allowed us to be pro-active since this started. 

So far we've done very well. We've only had less than 6 tenants with whom we've had to work with due to loss of jobs or bank account issues. I think one of the reasons we've been successful with rent collection both in April and May has been because of our communication with our tenants. We have been keeping them informed every step of the way through this and provided them with resources should they need assistance. Our attitude wasn't "PAY OR ELSE" it was "HOW CAN WE HELP YOU TO AVOID HIGH RENT BALANCES WHEN THIS IS OVER".  

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  • Arlen Chou
    Investor · Los Altos, CA · Member since 2014 · 942 posts · 1k+ votes
    6y

    I am in the SF Bay Area and I have had 100% payments. I did have one tenant leave at the end of last month, but we already have several qualified applicants for a rent rate higher than what my last tenant was paying.

    0Reply
  • Larry Sanni
    Investor · Lincoln, RI · Member since 2019 · 36 posts · 18 votes
    6y

    Thankfully my tenants have have so far paid their rents during the lock down.. 

    I don't know of any Government interventions in RI..

    0Reply
  • Cole Raiford
    Rental Property Investor · Gulfport, MS · Member since 2018 · 113 posts · 133 votes
    6y

    @Daman Gandhi one tenant didn’t pay in April then skipped town. All others have paid to date. Not bad all things considered.

    0Reply
  • Alex Waugh
    Property Manager · Edmond, OK · Member since 2019 · 20 posts · 21 votes
    6y

    During Covid-19 I've received my rent on time for a duplex I own that is a class A-type property. In fact, our tenant paid 6 months in advance a month before she had to. Very thankful! 

    1Reply
  • Zac Newell
    Investor · Hove, United Kingdom · Member since 2017 · 42 posts · 34 votes
    6y

    3 SFRs. All rent paid in full.

    0Reply
  • Aaron Burns
    Member since 2020 · 16 posts · 13 votes
    6y

    So far out of 10 SFR's I've missed one month of rent but that was due to me helping a tenant out hoping the break would help him get on top of his bills.

    0Reply
  • Al Lee
    Member since 2019 · 22 posts · 10 votes
    6y

    Have 3 rentals in California (2 in San Francisco, 1 in San Mateo), all rents on time. Have 1 SFH in Louisiana, PM notified everyone that rents were in but a bit (7 days) delayed.

    0Reply
  • Oksana Patrick
    Investor · DFW · Member since 2020 · 14 posts · 7 votes
    6y

    I completed my flip right in a day when Texas was shut down because of pandemic. I decided to make it my 1st BRRRR, so I rented it. As far as now, I am very happy with my tenants, great family with 3 kids. I verified tenant with local Realtors assosiation before to rent, I did build relationship with them as well. I gave them a small "welcome' gift and asked them several times (during their 2 weeks) if they need any help or if they comfortable. I do want to show them - I care. I believe it's important.

    0Reply
  • Dominique Pradel-Lewis
    Investor · Pittsburgh PA · Member since 2018 · 102 posts · 76 votes
    6y

    Yes on time every month

    0Reply
  • Dan Hennessy
    Rental Property Investor · MA · Member since 2018 · 34 posts · 11 votes
    6y

    I agree with the comment earlier that "pay up or get out" is the wrong attitude. Being proactive about communicating both expectations, but also what are the options tenants should explore i they are having issues coming up with rent. This has worked well so far with 100% collected in April, 100% May (with 2/6 MF tenants delaying), 5/6 in June. I'm expecting tenant to pay by end of month.

    My medical office CRE tenant has been on-time like clockwork.

    0Reply
  • Keith A.
    Rental Property Investor · TX · Member since 2019 · 236 posts · 392 votes
    6y

    yes! all have paid on time! i know one relied on Trump's stimulus check... so thank goodness for that, and has since been called back to their job. Things are looking good and I am thrilled. 

    0Reply
  • Jack B.
    Rental Property Investor · Seattle, WA · Member since 2014 · 1k+ posts · 1k+ votes
    6y
    Originally posted by @Anthony Wick:

    @Andreas W.. Yes. And even worse, I've been reading articles about people being jealous of those that received the stimulus checks and those that are getting the $600 unemployment bonus. Some are saying "it isn't fair". Well, that just makes me laugh. I'm sorry some people are so successful that they didn't qualify for the stimulus. I would think people would rather be successful than get a one time payout of $1,200. And I certainly don't want to be one of the people that is unemployed and getting just $600 a week (before taxes). 

     I worked hard, MBA, 20 year tech career, so I could pay 100K a year in federal taxes for lazy and dumb people to get free housing, free health care and free food while they pop out more kids. Neighbor has 9 kids, lives in a section 8 property. The more kids she has the more she gets. What a great point you make....not.

    I'm successful because I sacrificed and worked hard. They live the same lifestyle on my efforts while not working at all. Since you're so pro socialism, why not send me some of your money?

    The stimulus opened the door to 24K a year free money on top of free health care, free food, etc. So you're looking at closer to 60-70K a year for most loser and deadbeats.

    0Reply
  • Farida Mostajabi
    Rental Property Investor · Cincinnati, OH · Member since 2020 · 27 posts · 11 votes
    6y

    Collected %100 rent since the beginning of the pandemic

    0Reply
  • Paul DeSilvaPro Member
    Investor · New York, NY · Member since 2017 · 148 posts · 252 votes
    6y

    100% thankfully! Some tenants have paid several months in advance from fear of hardship. I have to say that all our tenants have been great through out this whole pandemic. 

    0Reply
  • Will Fraser
    Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
    6y

    Thanks for the excellent explanation, @Chris Clothier!  I'm seeing the same as you here in OKC, but your scale and emphasis on excellence gives the entire community a great blessing!

    1Reply
  • Anthony Wick
    Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
    6y

    @Jack B.. Not sure where you get the figures of $60-70k a year for "deadbeats". You seem kind of bitter. You sure you're successful, if those unemployed are living the same lifestyle as you? Or was this a rant against society in general, rather than a rant against me? If it's directed at me personally, then I'm game. Let's have a row then. If not, then carry on and good luck to you. 

    0Reply
  • Alex Larcheveque
    Real Estate Agent · Rancho Cucamonga, CA · Member since 2018 · 82 posts · 36 votes
    6y

    @Jack B. Where's your compassion? I disagree with you 100%. Many of these individuals that are now unemployed are not "lazy" nor "dumb." Some, if not most, are extremely hardworking but have just gotten unlucky with COVID-19 affecting their business in an unprecedented way. 

    0Reply
  • Jian G.
    Rental Property Investor · San Diego, CA · Member since 2019 · 102 posts · 43 votes
    6y

    average around 18k a month 95% received throughout covid one did a partial for one of the month and catching up, got lucky and my business double in sales during Covid, can't complain at all. 

    0Reply
  • Jack B.
    Rental Property Investor · Seattle, WA · Member since 2014 · 1k+ posts · 1k+ votes
    6y
    Originally posted by @Alex Larcheveque:

    @Jack B. Where's your compassion? I disagree with you 100%. Many of these individuals that are now unemployed are not "lazy" nor "dumb." Some, if not most, are extremely hardworking but have just gotten unlucky with COVID-19 affecting their business in an unprecedented way. 

     Reading comprehension is key...

    I worked hard, MBA, 20 year tech career, so I could pay 100K a year in federal taxes for lazy and dumb people to get free housing, free health care and free food while they pop out more kids. Neighbor has 9 kids, lives in a section 8 property. The more kids she has the more she gets. What a great point you make....not.


    Please explain the compassion the government is giving landlords who are expected to eat this loss so that it does not become a government problem of increased homelessness? How is that fair? Did they give us a break (do you even own property???) on mortgage payments and taxes? NOPE. Did they say you can go get gas and groceries for free, don't worry about paying? NOPE. A little bit of critical thinking will go a long way....

    1Reply
  • Tigran Kalaydzhyan
    Lender · Abilene, TX · Member since 2019 · 50 posts · 24 votes
    6y

    I have 9 occupied units. Throughout these months, only one tenant delayed the payment so far and it seems the delay is caused by the government. Another tenant paid 2 months in advance! Amazing tenants, I'm very grateful to them.

    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    6y

    I have 20 units and am 100% paid up

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
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    0Reply
  • Jason JamesPro Member
    Rental Property Investor · Hillsboro, OR · Member since 2018 · 117 posts · 64 votes
    6y

    All rents have been at 100% last 2 months. March one tenant paid late (in Detroit) but since then has been making up the payment. Things seem to be back on track.

    0Reply
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