Tagged in: Rental

Are Your Tenants Unable to Pay Their Rent? Tips for Navigating a Difficult Rental Market

Rising foreclosures and changes to the mortgage industry after the 2008 crash pushed many people into rental units. That was great news for a growing number of landlords, many of whom took advantage of cheap prices on foreclosed properties to establish themselves. Those same people are now facing serious issues with tenants unable to pay their monthly rent. Eviction moratoriums, while great for helping those facing unexpected struggles, have many landlords unsure how they are going to make up for skipped rent payments. Luckily, there is help available if you are faced with tenants who have fallen behind.

Seek Out Low-Income Tenants 

While it may seem counterintuitive, sometimes the lowest income renters are going to be the most secure. That’s because individuals who pass hud screening criteria may qualify for subsidized rent payments, also known as section 8 housing. Most cities and towns also have at least one nonprofit that …