Coronavirus Lockdown Results in Rent Freeze and Eviction Moratorium

Coronavirus Lockdown – Results in Rent Freeze and Eviction Moratorium

Well, we all know about COVID-19 – the new strain of Coronavirus is the biggest problem the world is struggling with today. The outbreak of COVID-19 now has been declared a pandemic by WHO, because it continues to spread around the globe. And due to this many states and cities have imposed complete lockdown, and it is already having a major effect on international commerce. The real estate owners, property managers and landlords should be well prepared to address the concerns impacting the industry as a result of the virus, because this is expanding in the United States.

Millions of U.S. households are expected to face financial burdens. There are many who have no jobs and they can even go and search for job outside during the lockdown. And there are people who want to know whether or not they should pay the rent. Well, those who are facing reduced hours or job loss and are worried about making rent payment this month, just calm. President Trump has already said that the Department of Housing and Urban Development “all foreclosure and evictions” will suspend through the end of April.

Being a renter you will have to discuss your options with your landlord if you are experiencing a disruption in your income. And the landlords need to also discuss the options for payment with your mortgage lender or with your property management company in Maryland.

Here’s know what you can do to ask help from your landlord during the lockdown: –

Give a Notice to Your Landlord

Tenants are advised to contact their landlords as soon as possible. They should talk about the delayed or partial payment options. If you have good relation with your landlord then he would surely help you during your hardship you are experiencing due to current situation in USA.

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Work out a payment plan

You may be facing business loss or have no job due to this pandemic so, it may impossible for you to make the full payment. But if you can, then try to give your landlord at least a partial payment. Make a payment plan with repayment dates and also ask everything in written from your landlord. In fact, expert suggest you to follow a script inputting your own financial details like you can mention what problems you are facing and how much amount you are paying. Also mention the remaining amount and the estimated time or date of the next payment.

If you think you won’t be able to make a payment not even the partial amount, then also bring it up to your landlord as soon as possible. This is the time when no landlord can evict the tenants. So, you can ask for help from your landlord and ask if he can skip a month and allow you to make the payment in some other month, once you are back to work.

It is because the commercial landlords’ expenses based on their income from the rental apartments only, so you should be clear to them that you are just paying late and not asking for free money.

 

Look for Outside Help

If the payment plan doesn’t work out or your landlord does not allow you to make a payment plan, then you can ask your bank for a short-term loan. Many of the banks are offering to help their customers during this difficult time, when the whole world is struggling with health crisis. So, you should absolutely take advantages of the facility if you are really in need.

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Well, let us inform you that the Joe Biden and Sanders join state lawmakers in calls to freeze and forgive rent payments. Because they know that millions of Americans are struggling during the coronavirus lockdown. They say that the govt. must freeze eviction so that people could be able to stay wherever they are. Also there should be a rent freeze. No one should be evicted and asked for rent payment during this period. The former vice president also added about the stipulations would include helping the small businesses and the people whose income is below $75,000.

Considerations for Landlords and Property Management Companies in Baltimore, Maryland during Coronavirus Lockdown

If you have apartments for rent in Baltimore or, if already your tenants are living in your rental apartment in Maryland then being a landlord you have certain duties and obligations during this hard time. You should not ask your tenants for payment during the lock and should understand their problems they might be facing due to the current situation. And as you already know that you cannot evict your tenant from your rental apartment in Maryland because Trump has already announced to implement 30-day or indefinite eviction bans so that no renters would be kicked out of their homes during the crisis.

Well, coming back to the question – do renters have to pay their rent in the month of April and further? Then let us inform you that for instance, the renters have up to six months to repay any unpaid rent in many states and cities in U.S. Cities and states like Baltimore, Boston, San Jose, Miami, New Your State, Portland, San Francisco, Kansas, and Seattle are doing this. You will have to check local and state government website to see if the options like this available in your area or not.

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