1. Communicate with Your Renter:First, communicate with your renter. Empathize with them and let he or she know how you feel about these unprecedented circumstances.
2. Offer Deferment of Rent:
Next, when necessary, consider offering a full or partial deferment of rent.
But let your renter know any reduced or deferred rent is not forgiven rent, and that they will have to repay you.
3. Ask to Provide Written Documentation:Any renter that asks you to reduce or defer rent must provide you with written documentation that they have suffered adverse financial consequences due to the COVID-19 virus resulting in a “substantial” reduction or loss of income for any of the following reasons:
- Sickness with COVID-19 or caring for a household or family member who is sick with COVID-19.
- Lay-off, loss of hours, or other income reduction resulting from business closure or other economic or employer impacts of COVID-19.
- Compliance with a recommendation from a government health authority to stay home, self-quarantine, or avoid congregating with others during the state of emergency.
- Extraordinary out-of-pocket medical expenses.
- Childcare needs arising from school closures related to COVID-19.
The new forms are:
If you have a specific question for us please call us directly at (760) 845-9525. We will set up a phone appointment to help you your questions.