What to Do If You Can’t Pay Rent

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The rent is due and it seems that you will not be able to pay it. You’re not alone. With COVID-19 wreaking havoc on the economy and the unemployment rate, many Americans are struggling to pay their monthly rent. Many cities across the country have ordered rent reduction and eviction protection due to unpaid rent, but many have not. We’ll explain how to get in touch with your landlord if you’re not going to be renting this month.

Contact us early

First: talk to your landlord as far in advance as possible. If you know a few days before the rent is due that you will not be able to make the payment, contact your landlord. If you know a few weeks in advance, it’s even better. The more time you give your landlord, the more time you will have to discuss options together.

Since many cities have ordered a moratorium on evictions due to the non-payment of many types of apartments and rental homes across the United States, you probably don’t have to worry about being evicted. . Find out and see what your city and local governments are doing to protect tenants.

Suggest a plan

One approach to managing your missed rent payment suggests a repayment plan. The owners are often more understanding than we think. Work with your landlord or property manager to find a long-term solution that benefits both of you. Suggest a installment plan in which you would make smaller incremental payments in a few months or more.

If you feel comfortable, share what you are experiencing financially so that they can better understand your situation. You can mention any financial information you think is important (again, if you’re comfortable), including your savings, income adjustments, unemployment benefits, and new sources of income. Be honest and open about what you are going through so that you can plan for the months ahead and beyond.

Negotiate a lower rent

In addition to payment plans, it might be a good idea to negotiate lower rents for the next few months. Write a letter to your landlord referring to your financial situation and explain how this lower rent will be more manageable for you. Suggest a reduced rent over the next three months and a plan to repay the remaining amount over a specific period of time. Lower payments and the installment plan will let your landlord see that you agree to pay them as best as you can.

Know your value

As much as the tenants avoid the moving process, the landlords avoid finding new tenants. Know that you are precious because they probably don’t want to go through the hassle of advertising the apartment and preparing it for a new tenant. Remind them that you are a great tenant and that you love the place you live. They might be more flexible and ready to keep you, the tenant they already have.

At the end of the day, if you can’t get something to work with your landlord, check out the government’s rental assistance resources. Many non-profit organizations like Catholic Charities and the Salvation Army also have some form of rental assistance, and the United Way can put you in touch with other local organizations.

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