Missing April Rents Due To Covid-19?

[Jonathan Bombaci]

Given there will be no evictions hearings in April I'm expecting many of my tenants to fall behind in rent. I'm expecting this to be a national issue and come June there will likely be alot of evictions for non-payment of rent on the docket across the nation. My question is do you think the government/states will intervene and pay 1-2 months of past due rent to prevent evictions? 

I know everyone is getting checks but I think it more likely that my tenants will use that extra check to buy scratchers than to use it to pay rent. In the area we invest we know the state/towns are can be counted on to catch tenants up for 1-2 months per year if they fall behind due to job loss or similar situations. I'm kind of expecting these programs to be stood up and funded on a national level otherwise there is going to be huge eviction problem this summer. 

The other thing I was thinking is I know small businesses are eligible for low interest loans to make up for "loss of income". As a small business owner, in the business of owning and renting properties, do you think we'll be eligible for these loans?  

Interested in hearing everyone's thoughts. 

Best,

Jon