Corona virus pandemic Tenants Losing Jobs
All,
I was wondering how other Apartment owners are getting ready for Corona Virus pandemic and good tenants that are losing their jobs. We have several C class apartments and most of our tenants work in the service sectors. As of last week over 70% of our tenants have notified us that they have lost their jobs and will no longer able to pay their rent. Also as you already know eviction is no longer an option. I'm not sure if on the Property management or asset management side there is any thing about delaying paying building bills, water, electric, mortgage, insurance....
Kindly let me know if any of you aware of any laws or programs that we can apply for to protect the business until this issue get back under control.