Hi Mike, we intend to provide a 3 month forbearance agreement if a borrower needs assistance AFTER they complete a forbearance questionnaire for them to state their hardship and provide proof of loss of income such as a termination letter or documentation from the unemployment office.

Throwing out ideas to increase occupancy…What if you were one of the only hosts to offer free food delivery in the form of gift cards or coupon codes at a time when no one wants to go to the grocery store and they HAVE to order takeout/delivery?

I still have their deposit and anticipate we'll rent their unit within 1-2 weeks so there won't be any loss to the Landlord.Only 0.4% of my renters (<15 out of 360) have contacted me to say they will be late because they're waiting on unemployment or some other assistance.Over half of my renters have paid so far.We're still getting a steady stream of inquiries for available rentals.

This part seems straightforward enough, but we aren't really sure how to manage any income, losses, or expenses that would occur as a result of us owning the property come tax season.My first thought was to organize a two-person LLC with an equal split just to simplify the finances - with any proffit or expeness split 50/50 and taxes passed on to the individual members.

I know we are being extra careful and will have to operate at a slight loss for a few months, but as long as the current tenant keeps paying his rent, we can weather the storm for a bit longer.

I have had several contracts blow up in the last month due to job loss and other financial issues but I’m also picking up others from investors and those looking to house-hack.  

So far, short term listings aren't doing great. we have to switch most of the short term in to month to month and eat up all the losses but before COVID 19 our short term is doing great. 

Ask them proof of unemployment / loss of hours. 2.

Did you account for the loss in 1 rental income and the added unit costs usually picked up the the tenant?"...

Even if the market recovers, this summer may still see large losses as people focus on getting back to work and paying bills.