Dealing with Non paying tenants due to Covid 19

[Suduk N.]

One of my tenant has owed 3 months of rent now. They paid some to their arrears when they have money but It’s so far behind, even when they get their job back (blue collar) they wont be able to pay their arrears in full anytime soon, esp with Covid is spiking again.

What are my options here? My PM suggested to offer them a 2 months period to find another place to move out with their written consent that they cant afford the rent and need to break the lease. Is that a reasonable approach compared to eviction? Thanks

[John Underwood]

I wouldn't offer 2 months, maybe one.

They should be making mad unemployment money.

I'd consider offering them cash for keys to move out in 2 weeks or I would start the eviction process.

You ultimately have to treat this is a business. 3 months behind is plenty lenient.