COVID-19: My tenants paid rent

[Kelly Pierce]

Just wanted to put some happy vibes out there I’ve been holding my breath until yesterday to see if my tenants would either message me or not pay rent on time April 1st, buy they all paid rent and I didn’t hear a peep (one even paid on the first and usually he pays in the last day he can to avoid the late payment fee) I feel like celebrating right now!!!

Vetting tenants is 💯 the most important thing and I appreciate it more in times like these. Hopefully others are having some good things with all of this or finding good solutions. 

[Michael Ablan]

@Kelly Pierce  -  I don't think April is the month we have to worry about.   Most people didn't lose their jobs until a couple weeks ago.  I think the danger here is the lull between now and the time it takes to process unemployment and the CARES relief.  

But yes, I completely agree with screening is the number one most important thing you can do.  I'll say no to 100 tenants before I'll say yes and it's for that reason that my default rate is close to 0%.   Buy and hold estate is a game won by those who can play the longest.  The quickest way out of the game is by saddling your investments up with non-paying tenants who trash the place.