On this week's FMF, Bob discusses the lingering impact of COVID-19 on tenants who have suffered a job loss, decreased work hours, medical expenses, or other loss of income. Many laws and local ordinances have been implemented to protect tenants with eviction moratoria if they have had financial impact due to the coronavirus. There have been no laws established, however, which give tenants a free pass or restrict a landlord from recovering rent at a future time. As landlords and property managers, what then should we do?
Bob gives an overview of what he considers to be the two primary options: rent forbearance and early lease termination. He explains each and provides the pros and cons of the two approaches as solutions for tenants with financial impact from coronavirus.
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