Virtual Online Meeting!
Many renters are facing financial challenges resulting from coronavirus-related business shut-downs, furloughs, layoffs, and stay-at-home orders.
The longer this crisis goes on, the more likely it is that many will not be able to pay their rent. When renters default on rent, landlords suffer, and might not be able to meet their own financial obligations, such as making the mortgage payments on the rental property.
Under normal circumstances, when tenants don’t pay rent, landlords have the option of terminating the tenancy (by serving the tenant with either pay rent or quit notice or unconditional quit notice, depending on the applicable laws). When tenants don’t pay the rent or move out by the deadline given in the notice, landlords can then file an eviction lawsuit to have the tenants physically removed from the rental.
However, health and safety concerns due to COVID-19 have led many states, cities, counties, and courts to place moratoriums on evictions. The scope of these temporary bans on evictions varies greatly: some have banned any and all activities relating to evictions, while others simply postpone hearings on evictions until the court can arrange a hearing via telephone or video.
So what actions can we take as landlords with the pandemic happening and the tenant rights put in place to pause evictions. Randy will cover all of this and more!
