Tenants breaking res leases

[Elliott]

Isn't there some federal program for landlords. I got a letter from First Interstate Bank offering me to sign up for all kinds of different government programs, many 'grants'. I thought I heard the Sec of Treasury said that the commission on these loans is 5% and he commented that what loan program can beat a 5% commission. It might take you some paperwork and signing up for direct deposit, but there's billions of money the government wants to give away.

 

[Fernando]

Isn't there some federal program for landlords. I got a letter from First Interstate Bank offering me to sign up for all kinds of different government programs, many 'grants'. I thought I heard the Sec of Treasury said that the commission on these loans is 5% and he commented that what loan program can beat a 5% commission. It might take you some paperwork and signing up for direct deposit, but there's billions of money the government wants to give away.

I haven't heard of programs for landlords. Be careful now of scammers.

 

[Elliott]

Here's the email I got, seems to cover virtually all bases.



Greetings,

On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. A key provision is the Paycheck Protection Program (PPP), which provides small businesses with loans up to $10 million to cover up to eight weeks of payroll costs, including benefits. All or a portion of the loan may be forgiven if the business retains its employees.

Small businesses with 500 or fewer employees—including nonprofits, veterans' organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. All loan terms are the same: a two-year maturity at a 1% fixed rate (subject to approval) with payments deferred for six months. The loan is retroactive to February 15, 2020, to help bring back workers who may have been laid off.

If you are interested in a PPP loan, simply click the link below to get started!1

In addition to the PPP, the Small Business Administration offers low-interest loans through its Economic Injury Disaster Loans (EIDL) program. These loans are administered directly through the SBA Office of Disaster Assistance. To apply for a COVID-19 EIDL, visit covid19relief.sba.gov.

The CARES Act also allows for an advance of up to $10,000 on an EIDL. The advance will be forgiven and may be available even if your loan application was declined or is still pending. To apply for an advance on an EIDL, visit sba.gov/disaster. Even if you already applied for an EIDL, you will need to fill out a new application for the advance.

Thank you for choosing First Interstate. We appreciate your trust during these challenging times.

Sincerely,

Kevin P. Riley
President and CEO
First Interstate Bank

 

[DTB]

Not having vacant property is huge IMO. I suppose it depends on where you are located, but if some squatter moves in, how are you going to get them out?
Better to have the current tenant with a reduced rent, at least you know what you have in place.

I always try and negotiate some kind of arrangements but sometimes it isn't possible. As far as squatters go, I had to go guerrilla at some formerly owned properties. Hire a big scary looking guy at the gym, arm him with a key and a facsimile of a lease. The new tenant meets the ex squatter. Landlord secures the property promptly. Very effective and cost effective too.

The squatter that is savvy will claim rights but since they are now out of the property, the onus shifts to them and their lawyer ain't up to my lawyer. Not for the faint of heart but business is business.

 

[Michigan CG]

I think a lot of people are uneducated about what the government is offering. In Michigan you can get about $400/week unemployment but the federal government is offering an additional $600/week for a total of about $1,000/week.

The median family income in the U.S. is about $65,000/year. If both husband and wife get laid off and make the median family income they will be making MORE staying home unemployed for the next few months.

 

[Denita Neuenhaus]

Here's the email I got, seems to cover virtually all bases.



Greetings,

On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. A key provision is the Paycheck Protection Program (PPP), which provides small businesses with loans up to $10 million to cover up to eight weeks of payroll costs, including benefits. All or a portion of the loan may be forgiven if the business retains its employees.

Small businesses with 500 or fewer employees—including nonprofits, veterans' organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. All loan terms are the same: a two-year maturity at a 1% fixed rate (subject to approval) with payments deferred for six months. The loan is retroactive to February 15, 2020, to help bring back workers who may have been laid off.

If you are interested in a PPP loan, simply click the link below to get started!1

​

In addition to the PPP, the Small Business Administration offers low-interest loans through its Economic Injury Disaster Loans (EIDL) program. These loans are administered directly through the SBA Office of Disaster Assistance. To apply for a COVID-19 EIDL, visit covid19relief.sba.gov.

The CARES Act also allows for an advance of up to $10,000 on an EIDL. The advance will be forgiven and may be available even if your loan application was declined or is still pending. To apply for an advance on an EIDL, visit sba.gov/disaster. Even if you already applied for an EIDL, you will need to fill out a new application for the advance.

Thank you for choosing First Interstate. We appreciate your trust during these challenging times.

Sincerely,

Kevin P. Riley
President and CEO
First Interstate Bank

Elliott, I would still be careful about this email.
I wouldn't under any circumstances use the button to click that is in the email. If this is your bank, go through your banks' website directly and not through a button on an email sent to you.
One of the tip off's (to me) is the use of the word "Greetings" in the beginning. Besides, even if this email is legitimate, it doesn't hurt to go directly to the banks website - it only takes a few seconds and is one more layer of security IMO.

 

[ucbruin]

I always try and negotiate some kind of arrangements but sometimes it isn't possible. As far as squatters go, I had to go guerrilla at some formerly owned properties. Hire a big scary looking guy at the gym, arm him with a key and a facsimile of a lease. The new tenant meets the ex squatter. Landlord secures the property promptly. Very effective and cost effective too.

The squatter that is savvy will claim rights but since they are now out of the property, the onus shifts to them and their lawyer ain't up to my lawyer. Not for the faint of heart but business is business.

You're a monster!!!!

 

[DTB]

I always try and negotiate some kind of arrangements but sometimes it isn't possible. As far as squatters go, I had to go guerrilla at some formerly owned properties. Hire a big scary looking guy at the gym, arm him with a key and a facsimile of a lease. The new tenant meets the ex squatter. Landlord secures the property promptly. Very effective and cost effective too.

The squatter that is savvy will claim rights but since they are now out of the property, the onus shifts to them and their lawyer ain't up to my lawyer. Not for the faint of heart but business is business.

You're a monster!!!!

All 5'7"

 

[Fernando]

I think a lot of people are uneducated about what the government is offering. In Michigan you can get about $400/week unemployment but the federal government is offering an additional $600/week for a total of about $1,000/week.

The median family income in the U.S. is about $65,000/year. If both husband and wife get laid off and make the median family income they will be making MORE staying home unemployed for the next few months.

This is suppose to be temporary but your right. There's no incentive to work during those periods especially going outside in this dangerous environment. At least the money will help people to pay bills and not starve. Our future grandkids can pay the bill later.

 

[Fernando]

All 5'7"

You can rent a fence to keep trespassers out. My property was vacant for a long time and I have to rent a perimeter fence in keeping despicable people from dumping in my lot.