March 1st is rapidly approaching. Are you on top of requisite notices?

Daniel talks about the importance of taking the next steps to make a softer landing on the other side of the pandemic.

In order for landlords to capture their share of the $2.6 billion in rental assistance, cooperative tenants will have to volunteer household and other information to complete the application. We urge fluid communication about the program and when all else fails, Bornstein Law can break the inertia when renters do not come to the table.
IN FOCUS
Tenant Buyout Agreements

Landlords have the potential to recover up to 80% of back rent and there is a glut of vacancies in the Bay Area. Rents are declining across the board. Does all of this mean that the value of a voluntary vacancy has gone down? Perhaps. Perhaps not.

From the desk of Daniel Bornstein
Although Bornstein Law is heartened that SB 91 provides a path to recoup up to 80% of stockpiling rent debt, the law assumes the tenant is cooperative and volunteers the information needed to secure rental assistance funds.

In instances of acrimony and other situations, we have to prepare for the contingency that not all renters will be on board with the program. We air out our concerns in this article.

We remain big fans of tenant buyout agreements, but SB 91 has changed the calculus a bit. In many cases, it may be more tempting to accept 80 cents on the dollar by tapping into relief funds than to transition the tenant out of the unit. The variables are discussed here.


We look forward to our February 24th online meetup to tie all of these puzzle pieces together and give you a better compass in navigating a new set of rules relating to landlord-tenant law and get you or your clients cash-flowing again.

Thank you for your continued engagement and we are on standby to answer any questions in these most bizarre and knotty of times.

Please stay safe and healthy.
Last call for the February 24th webinar

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