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Updated over 4 years ago on . Most recent reply
Eviction moratoriums: switch to m2m lease, terminate on nonpay?
I am a landlord in a C/B- type area of Columbus, Ohio. I am seeing all the eviction moratoriums and the real likelyhood that our economic woes are about to get worse. However, I still want to stay in business and keep renting out properties as they become available. I have units on the market now, and talking to tenant applicants has been eye-opening in how many are in really severe times, and those are the ones willing to be open and honest.
If it would be effective, I want to switch to month to month leases which I would just terminate on nonpayment in the event we get into a long moratorium. Then I would be evicting for overstaying the lease, not necessarily the nonpayment.
Thoughts? Are moratoriums also covering overstaying lease terminations? Because I want to keep good tenants, I'd offer a fixed price for the first year, but not sure if that somehow affects the contract. Thanks for any thoughts you may have.
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I would try to get in touch with a local real estate attorney in your area. There are all sorts of fun quirks with the Cares act and local restrictions. I asked an attorney in my area about this the other day. He said there may still be some loopholes in the tenants favor and you could have issues getting a judge to rule in your favor if the tenant shows loss of income or inability to pay.