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.