Workaround to Eviction Moratorium

[Account Closed]

Good Morning BP Community,

As a multi-family apartment owner, I was thinking about how dangerous the government-imposed eviction moratoriums could be to the fundamentals of our business model. I understand that the current situation is labeled "temporary", but as John C. Calhoun once said "there is nothing more permanent than a temporary solution". This axiom is particularly germane when the government and bureaucrats are instituting the solution. 

When I couple the moratorium with the subtle (and not so subtle) messages put out there by various sources that housing should be free, my concern deepens.

While the courts may eventually offer some sort of remedy, there are the obvious costs, delays, and uncertainty of outcome associated with this route. Also, in this situation, the courts are closed and justice is not available. 

I also considered the cash for keys solution. But I am not sure how effective this would be. Why would a tenant getting a free ride leave? Would cash for keys still be feasible if there are a large block of tenants involved?

Short of some sort of lock-out, or physical blockage of occupancy, I am struggling to come up with any alternatives and thought I'd tap into the community's collective wisdom.

Thank-you in advance.

[Todd Dexheimer]

Originally posted by @Heather Schmidtknecht:

@Todd Dexheimer, do what if it’s the end of their lease term... do landlords have the option to not renew the lease if they’re not paying? I am just finishing a rehab on a rental, and when thinking about signing a new lease with someone, is keeping the term shorter (3 months vs. 12 months) a feasible strategy?

Its very state dependent. In Minnesota we can't do anything. We can't evict and we can't non-renew. In Wisconsin, Ohio, Kentucky and Tennessee we can evict and non-renew.