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Tenant asking 50% reduction in rent

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Everybody has their own ways of doing things. Some money is better than no money. I know from your previous post that you have other rentals.

What are you trying to do? Some form of Reverse Dollar-Cost Averaging strategy!
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
The tenant has agreed to the terms. I'm rather generous in extending discount to September.
Normal should be back this summer. The "double" rent is the normal rent if pandemic didn't occur.
are you the property manager for these buildings or do you own them?
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
You are setting the tenant up for to fail and no your first double rent check will bounce and the game will start all over again. : ) LMAO
 

Fernando

Thread Starter
Senior Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
Today, I raised the rent by 1% to a long time residential tenant. Her rent is below market.
Every year she complains. This year she "ripped my head off" saying it's the pandemic and rents shouldn't be increasing and people don't have jobs.
Her husband is a contractor and contractors now have work. Right?
 

Fernando

Thread Starter
Senior Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
So tired tonight. I was preparing numbers for my coming tax returns getting the rent and expense figures for 2020.
I had some tenants paying on time, some paying half, some left.
It was shocking to find my rental income dropped 40% last year.
I wonder if other property owners also experiencing such a drop.
This year so far doesn't look good.
 

Fernando

Thread Starter
Senior Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
Since my commercial rents dropped, I was looking at some REITs stocks like Kilroy Realty Corp.
Their stocks have dropped significantly. They do pay dividends. Do you think it's a good time to buy this year?
 
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