COVID-19 has made things that use to be normal, very uncomfortable and abnormal. This virus has affected the economy in such a drastic way. Bars have been shut down back down because the lack of mask and lack of social distancing. Full and part-time employees are now unemployed and unable to pay their August rent.
It is important to have several streams of income. Short term rentals, such as an Airbnb, can be rented month to month. As a landlord, you can decide who you want to rent to. With the virus still prevalent, it wouldn’t be suggested to rent to traveling nurses, but it’s totally up to you. As you have considered, things will not be back to normal anytime soon. In the end, there will be two types of real estate investors remaining: the COVID-19 real estate survivors and the casualties.
If you are a landlord and need further legal assistance, contact Martin Law Group. We our offering free consultations for the month of August.