Originally posted by @Crystal Ward:Tenant and his wife filled out a rental application 2 weeks back.

I am suspending raising rent until the current economic situation has reversed course.Some folks will leave if you raise rent on them, I do want to add an unknown risk i.e. new renter into my formula.My S.F.H homes are paid off but one with economic activity strangled it takes no crystal ball to see what is going to happen.I have a pre payer getting ready to renew I was going to bump up that number up I will now stay at last year’s level.

Non of us has a crystal ball-if this is a 2-3 month thing I still think that this is a good long term deal, but if it takes one year economically for the economy to recover(can’t increase rents or institute utility bill back if people can’t pay) then I probably should pass.

Of course, no one has a crystal ball or an accurate one at least. 

My crystal ball sees bankruptcy attorneys rubbing their hands with glee.

My crystal ball's batteries are low and I can not tell when it will end, only that it will.This is not a crisis, it is a moment of untold opportunity.Fear is ruling the day and it leads to poor or no decision making.My Advice:If you are in a secure financial place and have cash, YOU MUST WATCH THE RE MARKET CLOSELY and be ready to make a decision and buy when the right deal comes along.  

@Colton KingMy crystal ball says the economy as a whole will not be imploding soon.Fed plans on keeping interest rates low for the foreseeable future and that helps keep home prices higher.

This is what will cause stock for owner-occupied to increase and therefore hurt new starts.Unless we see hyperinflation where prices increase and wages do too, we will probably see rents flatten or even decrease as demand goes down.No money means no demand - don't need to be a Pulitzer winner or possess a crystal ball to see that coming.So the answer will be the hustle.

As a courtesy to the tenant, the invoice will be presented 30 days prior to the due date.In my crystal ball, I see a lot of court dates.

If I were in the situation I would hopefully have used a Deposit to Hold agreement and I would keep the deposit, cut ties with the already not-understanding tenant, and search for someone who exhibits the qualities I value in a tenant (namely their Mindset).You have either a crystal clear case to do that, or a fairly clear case (depending on whether or not you used a deposit to hold agreement).