The coronavirus has put a halt to many things, including tenants not being able to pay their rent. As a landlord, it is important to communicate with your tenants and look up your local regulations. Communication is very important. Make sure you communicate effectively and efficiently.
Encourage your tenants to pay what they can. Any payment is better than no payment. It is also important to ask for verification (if allowed in your state) if a tenant can’t pay their rent. You can set up a payment plan or borrow from your lender. You can also see if you qualify for a government loan.
Lastly, if you have vacancies, offer a virtual tour. Due to social distancing, this will be a great way to stay safe for both parties. If you are a landlord and need further legal assistance, contact Martin Law Group. We our offering free consultations for the month July.