11 Tips For Avoiding Foreclosure In South Florida

Publish Date : 2021-02-23 10:54:33


11 Tips For Avoiding Foreclosure In South Florida

Do not bother about landlords. They're rich. They don't need their tenants to pay for rent. I get so frustrated with the closed-minded advocates who find it difficult to observe how a motion which may benefit one group, hurts others. They wish to push their agenda, regardless of the cost.

According to some housing advocates, the recent CDC Eviction Moratorium doesn't do enough to help, and it must be the burden of the landlord to locate government support whilst the tenant can miss rent payments with no recourse. Do these folks not recognize that nearly all landlords own less than three units and NEED rent to fund maintenance, taxes, insurance and mortgage payments? What goes on with their property if they stop paying their mortgage?

Early last month the CDC used its'powers to enact a moratorium stopping landlords from evicting their tenant for nonpayment of rent. This moratorium is good through the conclusion of the year, with the likelihood of extensions. The CDC can try this because they claim this is not about supporting people in need financially (which is not their job) it's to slow the spread of COVID-19 (which is their job). I applaud them for recognizing the risks of homelessness and compact living situations with the spread of the virus, but what I don't understand is excatly why the burden falls on the tiny "mom and pop" landlords? Here are the often-misunderstood information on the recent Eviction Moratorium.

With hardly any exception, every tenant qualifies for eviction protection!! To qualify, the tenant only needs to generally meet two requirements.

Attempt to obtain government support to pay for rent.

Make less than $99,000 in a year for a single taxpayer or $198,000 for dual income families.

I struggle with the second requirement, because that's more cash than a lot of people that make their payments earn in a year. According to the CDC, in order to afford a 2-bedroom home in the absolute most expensive market in the country, the household needs to make $80,621 per year. That would keep rent at 30% of your family income. Because the CDC referenced the 30% of income number, their guidelines to qualify because of this moratorium implies that the household that's protected from eviction may make rent payments of almost $5,000 per month. See why I say almost every tenant qualifies? All my tenants certainly do.

Sound bad? It gets worse. The procedure to avoid you from evicting them for nonpayment is rather simple. All that's required is for the tenant to send you a signed declaration. They could fully grasp this declaration online, sign it, and send it to you and stop you from evicting them. Notice how I did not mention that they need to prove they tried to obtain support, nor do they need to prove that they really need it? It is very important to note that that is only for nonpayment, so when you yourself have a tenant that's breaking rules, causing trouble, or is merely away from lease term, you can still evict. It can be good that this is not a forgiveness of rent, or at the very least that's the idea, it is a hold on the eviction. The tenant will still owe all rent and late fees and you, since the landlord, will still have the opportunity to gather that at some point. Good luck with that!

My advice would be to start the eviction in the event that you did not get the declaration. If the tenant doesn't send that to you, they are not protected. I would also suggest dealing with your tenant as much as possible. If they're in need and want to utilize you, let them. A partial payment is better than no payment and helping them keep their home is very important in times like these. Finally, when you yourself have any leases expiring, It is suggested moving those leases to monthly to month. At least until we get after dark COVID chaos. Having monthly to month lease will allow you to evict based on the lease expiring and not nonpayment.

 



Category : business

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