Tenant Can't Pay Rent - COVID & Recently Widowed - Help!
Hi there! My hubs and I are Houston-based rookie investors. We have three properties here, and one in Canada. Sadly, our Canadian tenants (a family with 2 school aged boys) reached out mid-April. They were both laid off in mid-March due to COVID, and then two weeks later the husband had a sudden heart attack and passed away. They have been with us for years and are such good people. It's heartbreaking.
We worked with the tenant for May rent and deferred her payment, but stated June rent would be due. She's now reached out to tell us she can't pay June rent and is waiting for government assistance.
Any guidance would be greatly appreciated. We have healthy cash reserves, so we can handle non-payment for a month or two. How do we handle this professionally, but with empathy and care? We do not want to tarnish the relationship and would love to keep these tenants long-term. But, rent is obviously a requirement.
Thanks in advance!
Most Popular Reply
Please know that she needs more help than you can provide. Her financial issues will extend beyond the rent payments - and if you try to carry her, you're just delaying the inevitable. Please contact and have her also contact the local Housing Assistance Office in the city where she resides; please do this today. They are equip to deal with financial emergencies in the short-run while making long-time arrangements afterwards.
Your healthy cash reserves need to stay your healthy cash reserves.
What she needs is practical, tactical, and strategic financial help now. Lead her to it - pave the way with contact information and assurance that she and her children are deserving of this help. The sooner she acts, the sooner the burden can be lifted.
And, thank you for caring; your empathy is so appreciated - especially at this time when the world is in such deep chaos.
A fan,
Patricia Steiner