Understanding residential property management during the COVID-19.
If you own or manage a property right now during these times of concern, then you need to be educated enough to be able to respond in the now and in the near future. Individuals are being laid off their jobs by the millions, so we had better learn the law and how to handle our residents.
Congress passed the CARES Act last week. CARE is the acronym for Coronavirus Aid, Relief, and Economic Security Act. It was signed into law by President Trump on 3-27-20. Generally, it appears to give all tenants 120 days of protection from action being taken against them for not paying their rent:
On April 6, 2020, the California Judicial Council issued the following rules “…A court may not issue a summons on a complaint for unlawful detainer… A court may not enter a default or a default judgment…”. These rules will be in effect for 90 days, but the kicker part is that the 90 days does not begin until after Governor Newsom declares the Covid-19 emergency over.
On March 31, 2020, the city council in Riverside passed a moratorium on evictions for 60 days. This effects our service area where we manage homes in Banning, Beaumont and Calimesa, Ca. It states that “If able, the tenant should make an effort to pay a portion of the monthly rent”. I can hear my tenants now, “But what if I’m able to pay my entire rent?”
A.I.M. Property Management believes landlords, residential property managers of condo’s, townhomes, and residential homes should simply collect any and all the monies possible. You cannot demand the rent. But maybe you can try, with the tenant’s permission, to apply their security deposit towards the rent. When renting out a property, attempt to get as much rent in advance as possible. Write into the lease or the agreement that deposit is due in November or a bit later. Lastly, we are informing our residents that they can’t afford to dig themselves into a big hole. There will be a time again, where they must settle up and get the rent current and in good standing…