COVID – 19 Guidance, Resources and Legal Forms

Apartment management, staff and Landlords need to be aware of the potential issues related to the spread of the Coronavirus. Actions taken by Local, State & Federal governmental agencies should be followed as they may apply to our communities. Obviously, the precautions advised by health authorities should be strictly adhered to and followed as best as possible.

Having said that; owners/investors need guidance today more than ever in light of the unprecedented crisis facing our nation. Health and safety are of primary importance, of course, but economic factors are also an urgent concern for many apartment owners.

As a 40 year veteran of the apartment business, I have been inundated with requests for advice on how to navigate the challenges that we all face today in our apartment businesses.

Issues of the day include the following and many more:

  1. What if my tenants are impacted by the virus and can’t pay rent because of illness or loss of a job?
  2. How do I vet the tenant to be sure I’m not being taken advantage of?
  3. Is there a form that can be used to document a rent deferral agreement if I enter into one with a struggling tenant?
  4. Are evictions taking place in today’s environment?
  5. If I have a vacancy, what are best practices for showing & filling the vacancy?
  6. Is mortgage forbearance in place if I can’t make my loan payment because of rent interruption?

In as much as I am prohibited from giving specific legal advice for liability reasons, I have taken the initiative of forming an affinity relationship with the Idaho Apartment Association ( IAA) for the purpose of providing complimentary forms and guidance for several of the issues noted above.

In closing, you may want to consider investigating a membership to the IAA to gain access to the full range of resources available to members including all relevant forms, tenant screening tools, legislative up – dates, best practices recommendations, monthly newsletters and more.

Until next time…… be safe & stay healthy!!