This is definitely a business decision that should be made for each individual business, but it may be a good idea for most landlords to spread it out over a month or two. Many residents will be eligible for stimulus checks under the CARES Act, increased unemployment...
FAQ
We researched the most common questions landlords ask and our team of experts answered them for you.
What if I have vacancies that need to be filled?
You may be experiencing more vacancies than usual during this time. Don’t panic! There are still ways to get people into your rental without breaking social distancing rules. Schedule virtual tours. Upload a tour of your rental on YouTube or FaceTime potential tenants...
I own multiple units, how do I communicate with everyone in a timely manner?
The National Multifamily Housing Council has some great letter templates you can send out to your residents to let them know what’s going on. They offer financial assistance resources for tenants and explain how to communicate with residents who have been impacted.
Are property managers and landlords considered essential workers?
Yes! The Cybersecurity and Infrastructure Security Agency (CISA) issued an update on March 28 that identifies workers responsible for the leasing of residential properties to provide individuals and families with ready access to available housing and workers...
If my tenant was not impacted by COVID-19 and is still employed, do they need to pay rent?
Currently, yes. While the eviction ban is a blanket ban at a federal level, your tenants who are not affected by COVID-19 should still pay rent as they normally would. However, it’s important to let them know you care and are open to communication if things change in...
My state has halted evictions, but my tenants have already stopped paying rent. What are the next steps?
Try to avoid any evictions due to non-payment of rent right now. Your first steps should be to ask for mortgage forbearance, use any money you have saved, and apply for an SBA small business loan created especially for businesses affected by COVID-19.If you’ve...