Corona virus is sweeping the nation and creating issues throughout the United States rental market for both Owners and Tenants alike.We provided some basic information discussing 4 different ways to collect rent.

, FAR (floor area ratio which is the max SF for the lot), lot occupancy (how much area can the building take up on the lot), green area ratio or pervious surfaces (a lot of places now require soft scale or where water can collect and not drain to the storm drain), parking requirement per unit (can the parking be offset if near public transportation), affordable housing, any view corridors to preserve, is it a historical neighborhood, minimum size per unit, and any public enhancements required?

He had collected $15 in tips.

He had collected $15 in tips.

This would be terrible for someone who has not already collected rent and hopefully built up reserves.Good luck

Right now, I've hired a lawyer to send a debt collection letter for me and hopefully after the COVID-19 is under control, I can visit the office in person to see about a payment.

If this is your question, then yes, I recommend you do it.With this contract signed, you should use the first method: report full rent that your agent collected from the tenant and deduct one month of rent (that he kept) as your expense. 

This is a fluid situation and we have our plan in place for how to handle rent collection and most owners have agreed to work with tenants.

I would think collecting rent so you can pay your rental property taxes, insurance, operating costs and debt service counts as "making yourself whole", eh? 

Basically, you collect a down payment , and the buyer promises to pay you the rest in the future, once he accumulates cash or secures a loan.