What if my tenants lose their job due to COVID19?

[Jayme Rivera]

We all know layoffs are coming and these are tough times for us all. The reality is what if our tenants lose their jobs because of COVID19? How are you communicating with tenants? Are you offering deferred payment plans? 

I understand we have to run a business and our mortgages still have to get paid. However this is unprecedented times and I believe we also should be compassionate and understanding of their situations. Our rentals are occupied by working professionals mostly in IT industries but this virus situation is affecting us all...regardless of their industry.

[John Teachout]

There's dozens of threads regarding this but with the just passed relief bill from the federal government, they should be receiving some funds they can put towards rent. It may be late and we won't charge the usual late fees (if it was covid related). Not everyone is being laid off, lots of employees are still working.