Coronavirus and May Rents

[Carlos Lez]

Though many of us have collected rents in April, now that May 1st is rolling around and a lot has happened in April (with stimulus checks, the SBA PPP program, EIDL, unemployment etc) and also all sorts of information being thrown around such as rent forgiveness, rent strikes etc. What do fellow investors anticipate for May rent collection. I have already had an inquiry saying can I not pay for May due to the pandemic with no explanation as to why?

[Kenneth Mooney]

@Carlos Lez you are spot on here. We actually saw one of our strongest months in terms of total collected in April. We typically are around 1% delinquent at end of month for that months rent charges (pet rent, rent, section 8, utilities, etc). We are on track for a VERY small increase this month and are anticipating a larger jump up in May. I would honestly be shocked if we finished May at + 5% delinquency. Our operations are run different to most and that should be taken into consideration as well.