| Rental Properties in a Pandemic

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( — September 4, 2021) —

While the Coronavirus pandemic has economically devastated the entire nation, with many having to shut down their restaurants, hotels, and other such businesses, one group in particular has been damaged as a result of COVID-19, landlords and their rental properties. The eviction moratorium prevents landlords from forcibly collecting rent from tenants, with no guarantee that the rent will be paid back at any point, and local courts are overflowed with cases to the point that they are refusing to hear eviction cases. All of this, in combination with the fact that the banks are still able to demand mortgage payments, means that the business of leasing property is not one that many would want to consider. However, for those who are landlords, it is crucial to find a tenant who will not be your downfall says .

The wrong tenant can end up ruining you financially says . The eviction moratorium prevents a landlord from kicking out tenants for failing to pay rent. There are many cases in the U. S. where tenants are perfectly able to pay rent but simply refuse to. In one instance, a tenant had bought a number of boats while refusing to pay rent, with the landlord having no means of collecting payment. Another landlord found that the locks on one of their rental properties had been changed to prevent them from entering. In fact, attempting to collect rent invariably worsens the situation, as many counties have enacted legislation that makes any attempt to collect rent “harassment” and grounds for a civil suit. Additionally, landlords are still required to maintain the properties while not collecting rent. This, in combination with the eviction moratorium, can lead to malicious renters draining landlords of every penny they have.

According to , the current strategy for landlords is to cast a wide net for tenants. Since you might not be able to do much about existing renters, it is vital that you screen any interested tenants to prevent further damage. While it might not seem like the best idea to be picky, as potential tenants may believe that the eviction moratorium makes landlords willing to take anyone, in reality, given the increased price of real estate as a whole, renting is more economically viable for most individuals, and so the selection process is significantly more competitive than you might first think. As such, make sure you’re taking someone with a history of paying rent on time and have good credit scores, as there are many good options, but it will take some work to find them.

The lease market also has negative consequences for real estate agents as well. With fewer people buying houses nowadays and corporations buying up foreclosed properties, being able to take commission on rentals is going to be a significant portion of your income. As such, it is important that you are representing the right people, as landlords talk. If you put a tenant who dodges rent or damages property, many landlords will be hesitant to take any offer you propose, due to your reputation. As a result, it is important that you do your due diligence and get an understanding of your client before you proceed with any transaction.

What is ?

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The site is continuing to expand their reach and offer exciting new features that continue to enhance the quality of their services. They are the best tool to rely upon when going about this process.