All Forum Posts by: Dave Spooner

@John Underwood It's great you paid cash - sometimes it pays to be underleveraged!

We've also reached out to work with our tenants. I think it's important in this time to forget the bottom line and try to do what's right (of course, that doesn't mean putting yourself in financial trouble!).

We're fortunate that we have enough cash in reserves to pay our mortgage even if we receive no rent, so we're offering our tenant's two options:

• Those on a long term lease can spread their April rent over the next 6-12 months depending on what they prefer.
• Those on a shorter lease can tap into their deposit to cover a good portion of the rent (up to half) to be re-paid later.

We normally wouldn't advise ever permitting a tenant to use their deposit, and we especially would never normally advise using that language. But we find it hard to believe that a court would hold it against us in this type of situation if push came to shove.