Are you concerned about how the current coronavirus pandemic will impact your tenant’s ability to pay rent? If you are like most rental owners, the answer is a resounding “yes”. Why wait to see how it all plays out, sell your Bay Area rental now, cash out and save yourself the stress.
While no one knows the extend, I think we can all agree that the coronavirus will have a negative impact on our economy, we are already seeing record high numbers of people filling for unemployment benefits. When people lose their job, it becomes more challenging to pay rent, it’s as simple as that.
Our government and the Federal Reserve are doing everything they can to step in and help but there is no way of knowing how effective the measures they put in place will be. It has been stated federally backed mortgages will be eligible for payment deferment but once again we are unclear how this will work.
The last thing any landlord wants is to have to pay a mortgage on a property that they are not collecting any rent on. Given the uncertainty surrounding our current situation that is a more realistic possibility than normal.
If you would prefer not to wait and see how everything plays out, give us a call today to get your no obligation, cash offer. We buy houses throughout the Bay Area and will take possession with your tenants in place.