3 Things Landlords Should Do As The Eviction Moratorium Comes To An End

The national eviction moratorium is set to end this month.

Are you ready? Because when it does, courts will be flooded with evictions.

And if you know anything about bureaucracy, you know that clogged courts mean evictions will take much longer to process. Pending evictions will be backlogged. New evictions will be delayed as well.

We could be talking years, guys.

There will be billions of dollars’ worth in back rent owed to landlords. It’s a no-brainer to say this will impact investors. You have to decide whether to charge the full back rent immediately, offer payment plans, or forgive all or a portion.

Last September, the Center for Disease Control (CDC) issued the Eviction Moratorium, halting residential evictions in response to the coronavirus pandemic. Texas and other states have already stopped enforcing it, but the moratorium takes effect nationwide June 30.

Eviction Moratorium Things Landlords Should Do As the Moratorium Comes To An End

  • Ensure your tenants are aware that all back rent will become due at the end of the moratorium.
  • Set a plan in place for what will happen at the end of the moratorium. Get legal help and prep any evictions filings that may be needed upon the end of the moratorium. See the section below for more information.
  • Prepare to have the paperwork ready for any evictions and be working with local counsel to start the process immediately.

Making A Plan

It’s so important to make sure the right legal structure is in place now.  The Royal Legal Solutions team can help you with this process.

Once you become a Family Office member, we’ll review your real estate investment options and business structures to ensure they are up-to-date, compliant, and bulletproof against whatever the future holds.

We meet with our Family Office members every quarter to give them actionable steps to take, making sure their asset protection plans conform to the latest legal changes that impact them. As a member, we’ll review your real estate investment options and business structures to ensure they are up-to-date, compliant, and bulletproof against whatever the future holds.

 

 

 

 

 

Image by lannyboy89 from Pixabay

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