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Updated almost 5 years ago,
In response to Covid 19 Tenant Request Rent Reduction-hours cut
Good evening Real Estate Investors!
I have been a landlord for about 11 years and still finding myself learning new business techniques, and styles. I own a total of 5 units, a multi unit (in which I reside in one) and a condo- DMV area. I must say, I became a bit worried when they mandated businesses to be closed due to covid 19-some of my tenants make fair wages. Gratefully, I received all rents this month! However, one tenant (who paid this month) sent me a letter today requesting a reduction in her rent due to her hours being reduced in response to Covid19.
Question: If I proceed to agree-would I just add an addendum to her current lease outlining the balance needs to be paid once she returns to full time- how do I go about doing this.. I want to do the noble thing-she has been be late a couple of times but, has been consistent with her rent. Should I allow for some thing like this or will this become a **** show... Please advise. Torn..