If Your Tenants Are Out of Work Until June 1st How Do You Collect Rent?
With the current hysteria surrounding the Corona Virus, and as supermarket shelves still struggle to stock everyday supplies, both the State and the Nation have made moves to protect tenants from evictions. Most recently the Governor of California, Gavin Newsom announced a 90 Day Ban on Evictions in effect Until June 1st. Read the full article here.
So the question is, what do landlords do with tenants who seek protection under this Moratorium and fail to pay rent? Now, of course, there are legal ramifications for tenants and last week I sent you videos from two real estate attorneys on how to tackle the legal side of this issue (if you missed those videos click here to access now.)
In Today’s VIDEO, I want to share some practical advice to ensure you do not go the next 2 months with no cash-flow. I explain what I am doing with my personal rental properties to make sure I collect at least 80% of the rent or more, and it actually has tenants paying rent early for April!