Q: Tenant is asking for deferred rental payment.
Tenant is on a 1 year lease contract ending on March 2021. He is a high mid class individual receiving retirement plus extra income. He claimed that he's lost the extra income, and would like the rent to be deferred for the next 4 months, and the deferred rental to be paid AFTER the end of the lease in April-July 2021. I have a mortgage on the property and I'm not getting the payments deferred. Should I ask him for proof of unemployment application, and the deferred rental to be limited to the end of the crisis, with repayment monthly before the lease expires? Thank Along with the lease application, he submitted a bank statement showing over $250K in the bank , and $7K monthly retirement. How can you stop receiving retirement payments? Also he had a 60 foot yacht and a 42 foot RV. If I evict him now, I'll lose over $20K, not be able to rent a waterfront home again any time soon, and I'll have to pay for utilities and landscape. He said he won't pay May 1st .Thank you all
So.....what's in it for you?
This (really good) tenant is on your hook for the next eleven months--and (you say) he looks like he can afford some temporary downtime until his "unemployment" situation blows over. So why do you want him to shift all the risk over to you?
Look: The tenant is either going to make it or not--within the next 4 to 8 month; so is his promise to repay you the 4 months unpaid rent in the middle of next year (by extending the lease?) enough surety for you to give up the next four months of his rent--while YOU struggle to pay the mortgage? Advice: A bird in hand is worth 4 (inflation) in the bush.
Marcos Garciaacosta agrees with this answer
Why request more documentation which will allow this person to drag out not paying you rent? Is he behind in rent yet? If yes, Advice: go hire a real estate attorney immediately and start the eviction process. Maybe you can get him to leave on his own without having to do anything.
Also, if he is retired, why is he filing for unemployment? Those are contradicting.
Jeffrey Lampert agrees with this answer
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