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Updated almost 5 years ago,
Rental challenges and Covid 19
Hello everyone,
I hope everyone is safe and sane.
I own a couple of properties. One of them, the tenants contacted me to let me know that they were not going to renew the lease because he was laid off his job, their lease is over May 31st... He said he is collecting unemployment, didn't mention anything about not being able to pay rent. They wanted to know if while this situation resolves they could go month to month while they are able to safely move out (I think they were planning on moving out of the state). Which would put push closer to the fall and that is when renting starts getting more difficult. What would suggest I do? I don't want to end up with an empty property in the winter.
Second property... They signed a 2-year lease in August 2019. They contacted me today and told me they are separating and that he lost his job. He said she wants to stay in the property and they hope we can work something out so I don't end up with an empty property in the middle of this. I believe he thinks he can be out of the lease because he lost his job due to Covid 19 and they are hoping I lower the rent so she can stay. She would find a roommate once the pandemic is over. Any suggestions?
Thank you,
Joseph