As an SBA professional I wanted to make you all aware that the SBA has a long standing policy to allow for loan deferments to handle temporary cash flow disruptions, which the Covid19 event qualifies as.This pertains to all borrowers who have an existing SBA 7a, 504 or Microloan.Loan deferment can be done unilaterally by your lender.

I don't want to disrupt that process but I am not expecting this to end any time soon and at some point am going to need some sort of income.Thanks in advance for any help,Tim

My guess is that we probably only have a few tenants that would have adequate savings to pay rent if they had a job disruption.

Better insulated from work disruptions for hourly tenants as many are salaried.My person sweet spotC: Built 30-60+ years ago, Can be suburban or urban, many run-of-the-mill garden apartments.

I applied for the EIDL, 5/3 received the email:Dear Applicant,We understand the challenges your business is facing due to the massive disruption caused by the Coronavirus (COVID-19) pandemic....What happens after this?

(A) providing paid sick leave to employees unable to work due to the direct effect of the COVID–19;(B) maintaining payroll to retain employees during business disruptions or substantial slowdowns;(C) meeting increased costs to obtain materials unavailable from the applicant’s original source due to interrupted supply chains;(D) making rent or mortgage payments; and(E) repaying obligations that cannot be met due to revenue losses."

Has had no income disruption 3.

etc.I think when people are saying that the real estate market is not affected by the virus they are meaning that downward pressure on prices and rents tend to lag behind the general market economy and so number changes would take some time to show up but you rightly point out that the buying and selling behaviour has been impacted by the social restrictions and this is very new so I agree that there is an impact albeit temporary.To respond directly to your concerns about extending - I wrote an offer yesterday and we included a hot off the press COVID-19 Addendum to the contract to mitigate the buyer's exposure if delays resulting from the disruptions caused deadlines to be missed - the traditional Purchase Contract in FL at least has a Force Majeure contingency in it but COVID-19 is not considered a Force Majeure event so you may need to consult with your agent/Attorney about how to get an extension.

With that, you'd think that even something as disruptive as the COVID-19 crisis would not negatively impact our residents' ability to pay rent.

This is not a permanent disruption of real estate.