If you own residential rental real estate, it is likely that one of the reasons you purchased it is to generate an ongoing income from tenants. Unfortunately, though, since September 2020, you may be one of the millions of rental property investors who have gone without this incoming cash flow, while at the same time having no recourse for evicting renters for non-payment.
As of mid-2021, the eviction moratorium for the non-payment of rent is set to expire on July 31st. But, because the deadline has been extended multiple times, it is possible that landlords and rental property owners could go even longer without incoming cash flow.
Once the deadline is eventually reached, though, you may require the tenant(s) to make full payment of past rent that was due during the temporary halt. In addition, if your renter(s) do not abide by the lease for other reasons, the eviction process may move forward.
With that in mind, it is essential to have detailed records of how much you are owed by your tenants who have gone without making rent payments on your property(ies), and to be ready to request what you are due.
Managing and maintaining rental property can be time-consuming – particularly if you own multiple units that are spread throughout the area. So, if you own investment homes and/or multi-family units in Central Florida, and you want to free up your schedule to focus on other things, we should talk.
When you hire Incentive Properties, we take care of a long list of tasks, including ongoing property maintenance, responding to emergencies, finding and screening potential tenants, and evicting tenants who do not comply with the lease agreement. So, contact us at (407) 279-1876 or send us an email by going to [email protected] and set up a time to learn more.
Sources:
CDC Eviction Moratorium. Community Legal Services of Mid-Florida. https://clsmf.org/cdc-eviction-moratorium/