Although we trust that scientists and medical professionals will slay the beast and that the number of vaccinations will catch up with need and demand, we are clearly not back to a state of normalcy in the rental housing business.
Despite the uncertainty, SB 91 gives landlords a flicker of hope to recover up to 80% of rent debt that has accrued during the pandemic. We've often said that a bird in the hand is worth two in the bush and now, we strongly advise clients to consider availing the rental assistance program being dangled by lawmakers.
Much more preferable to collect 80 cents on the dollar than chasing rent debt.
The law is always cleaner on the page than it is in real life. In order for SB 91 to work, we need the cooperation of tenants and this is by no means guaranteed. Bornstein Law can assist in bringing uncommunicative, recalcitrant tenants to the table.
Tenant buyout agreements remain a viable option, and one we should especially consider when there are underlying behavioral and nuisance issues.
We look forward to delving deeper into all of this on Wednesday and working alongside you to achieve a solution that recognizes the hardship of all parties.
~ Daniel Bornstein