I have two rental properties and tenants in both have expressed that they are experiencing financial difficulties due to the current pandemic situation and have asked for rent relief. Cont’d...

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Are there any government programs that could help? I’ve already reached out to my lender for options. I’m also thinking of the best way to structure this with my renters in terms of letting them use the buffer of last months’ rent that they had prepaid. I’m also considering lowering monthly payments and structuring a catch up later. I’d love to hear about what other landlords here are doing. I have good relationships with my tenants and would like to keep them long term and work out a fair arrangement, but my SO has been furloughed and we’ve already lost one income during this crisis and we can only go so far.

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Look at meet Kevin on YouTube. He has useful information for real estate investors

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Hope you got reserves

Yes thankfully we do! About a month or two in a separate account for the properties, but after that will need to pull money out of savings.

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If your mortgage is backed by Freddie or Fannie you can defer payments for a year.

Just call and get 90 day forbearance, I did on both my rentals just bc

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