I agree with Jason, that it's better to be proactive and give some, than to stick to your guns and refuse to bend.
The fact is, this is an unusual situation and we all have to work together to overcome it. It's not just 'being a do-gooder or bleeding heart'. It often can also make good sense business wise, even if the benefit is intangible.
I have dropped all of my tenants' rent to above my mortgage and sent them a letter, letting them know that this would be April's rent. Several have already paid ahead of time, letting me know how much they appreciate it.
As mentioned, a turnover and 1 month vacancy would cost me more than a dropped rent. And a tenant seeing that a landlord is a human being and not just a money-hungry landlord also gets some intangible benefits. I only expect 2 tenants to be taking advantage of me and the eviction moratorium and both of those I had filed eviction for before this all happened. They had court dates, that were cancelled for both :-(. So, it's not my 'niceness' that started this.
I can live without profit for a month. I don't have an expensive life style and no car payment. My own mortgage is covered with all of the rent payments. I have some cash reserves.
What do you all think of the restaurants that had to close but who are cooking now food for homeless? What about other people that are volunteering to help wherever they can? What about those, who brought food to fire fighters, when fires were raging? What about the standard in some cultures to always share your food with guests, even if you have little food for yourself?
Are they all stupid for giving away their own resources? Or are they human beings, who will lend a hand in case of emergencies? Do you believe in scarcity or abundance? I think this will show what a lot of people are made of.
