Mar 30 2020, 07:09 PM
QUOTE(zemega @ Mar 30 2020, 03:13 PM)
As a ex-tenant, I believe the best action is deferment like the bank loans. Or turn it into interest free loans. Defer for a few months, maybe 3 months. After three months, maybe pay back 50% more rent each month until no more debt.
Work out a plan with your tenant. Find out whether they are still working at home with reduced income or no income at all. Make a black and white whether its deferment or convert to loan or both.
What if tenant having trouble to follow up rental even before MCO. Now trying to deferment rental for few months and telling tenant to pay more to recover previous rental would cause more damage to tenant and headache to landlord. Giving discount package is the most ideal IMO.Work out a plan with your tenant. Find out whether they are still working at home with reduced income or no income at all. Make a black and white whether its deferment or convert to loan or both.
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