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When this hit I immediately reduced the rent to make it affordable mid-term, and re-signed renewals into next year (i.e. the total amount owed, just in case we ever go to court).
I also made it clear that if their plans changed, I might be agreeable to modifying the lease for subletting.
I've had many great tenants and want to keep it that way.
Carrot and stick approach..
It's all just agreements on paper but the end result is they stay secure and paying then I am happy as well. I kinda work for them actually.
I did lose significant profit because of Gov Witmer's nonsense, which is already thin because of local prop taxes (6 mo rent goes straight to the city.).
But I net positive without drama for the year. That fallback equals security and a win to me
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Meanwhile other things are still happening.
Last edited by john70t; 07-13-2020 at 08:51 AM..
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