Are you putting it in writing?

[Nathan Gesner]

This is more of a warning than a question.

If you are deviating from your lease agreement or normal policies, be sure to put it in writing. A lot of Landlords are letting tenants pay late this month, or maybe for the next few months. They're waiving late fees, holding off on evictions, reducing rent, deferring rent, and many other changes.

Don't let it bite you in the butt! 

There is a very good chance a tenant (or three) will try to test your boundaries. If you tell them they can pay late, they may take that to mean April rent isn't due until June. Think I'm joking?

Put these changes in writing with exactly what you are offering and how long that offer is in effect. If tenant wants to pay late, ask them for an exact date of when they can pay by. If you are waiving late fees or putting a hold on evictions, put a deadline on it (e.g. we are waiving late fees and evictions for the month of April 2020).

Your agreements don't have to be fancy or drawn up by an attorney as long as they are clear and signed by all parties. Give a copy to your tenant after signing and keep the original yourself.

It may seem unnecessary, but this simple practice will save a lot of you from a lot of heartache and lost income. 

[Account Closed]

Bravo! Thanks Nathan for starting this thread. Bravo for explaining it doesn't need to be fancy, only clear to all parties. Here is the letter I sent to my tenants to solve the issue.

Notice: Necessary Action Concerning Your Lease Has Been Taken Due To The Corona Virus Outbreak

Hello All Tenants,

As I write this letter in terrible times, I hope it finds all of you and your loved ones well. May we not forget those of us who have nobody to rely on. God help us all.

I was glad to have spoken to all of you either in person or on the phone last Friday, March 20, 2020, and then again today, Saturday March 28, concerning the situation of the world at present.

Verbal action requiring written notice took place concerning your lease on March 20th when I verbally expressed that rent for the month of April 2020 is waived. Keep this letter with your lease documents as your written record of that event.

Seek government if you need further assistance.

Be well.

Sincerely,

Merritt