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TopicWill you be paying rent?
Smarkil
03/29/20 9:30:37 PM
#33:


I own some rentals and my tenants will be paying rent according to my conversations with them. I'm not a monster who's trying to fleece them but I still have to pay my mortgage too. If my bank tells me I don't have to pay my mortgage for some amount of time, then I'm happy to pass that luxury on to my tenants.

In the mean time, I do have a late rent clause. If a tenant isn't paying rent for whatever reason, it amounts to something like 5% per day its late which would very quickly add up to a lot of money. I may or may not be able to evict them now, but they'd be owing me a lot of money in the end and their credit rating as well as future renting opportunities would be fucked. That be said, I would do everything in my power to prevent that from happening. It's a last resort.

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