All Forum Posts by: Jane A.

Here the tenants could find the help

http://www.211.org/services/covid19

I decided to handle it case by case based on tenants' requests.  Many get unemployment benefits and happy to have some time off.  Some companies are actively hiring for a delivery business.  If people get a car with a loan, the do not expect the loan amount will be reduced, but they could ask for a payment plan. In rental, we could offer waived late fees and payment plans if requested and necessary. 

@JD Martin I was thinking the same, thank you :)

@David Avetisyan :))) great point

Hello everybody, what is the reasonable response to the challenges of the current situation? Some tenants may be affected in a negative way. I heard some landlords sent toilet paper, some decided to not increase the rent this year.  What else could we do to help our tenants and our businesses?  Thank you

Good point, Nathan.  I would guess someone is making money on commissions :)  or this is some one's business :)

My Property management company collects from every tenant $15 monthly for Damage Loss Waiver. It is in addition to renter insurance. Does it make any sense for me as a landlord?  I tried to find on the internet but do not see any reason to have it, unless I own a big apartment complex and my insurance has a high deductible.  Does somebody have any experience with this?

@Michael Mullins  pls keep me updated, I am interested as well

By the way, Wells Fargo does HELOC on a rental :) nice surprise from the big bank :)

I am looking to refi as well, my previous experience - local banks offer better rates and I am checking with Quicken Loans as well.

I am thinking we may get a better rate to refi some rentals in KS and MO, but not all the banks are investor-friendly.  Could you please recommend investor-friendly brokerage or bank? THX

@Mark Fries @Michael Noto @JD Martin @Jason Bott

Guys, thank you very much for support and ideas!

Going to solve this problem now :)

So nice we have our community :)))