Working as a landlord in Florida and unsure how the current changes to policy, protections, and regulations are going to affect your business? You’re not alone! The constantly changing policies created because of the coronavirus pandemic can be stressful to keep up with.
As a landlord and one responsible for keeping your business on track, it is important you find a way to keep tabs on the developing pandemic. The best way to stay in control and level-headed during this type of unpredictable situation is to be informed.
Nationally, the CARES Act has put in place some provisions that can provide some support to landlords. In particular, these changes put into place deferred interest payments, deferred mortgage payments, and a 120-day moratorium on loans and housing funded by the federal government.
Locally, there are some interesting resources that may be able to make this time easier for you. Check out resources you can use as a Florida landlord as well as how you can support your tenants during this time.
Table Of Contents For Florida State Resources
- Mortgage Forbearance For Coronavirus In Florida
- Evictions And Nonpayment Due To Coronavirus In Florida
- Resources For Tenants During Coronavirus In Florida
- Can I Show A Rented Unit In Florida During Coronavirus?
While there is no statewide deferral recommendation or program in place at this time, many national and local lenders have set up 90-day forbearance programs that will allow deferred payments without penalty. To find out if your lender has a program, check their website and contact them directly.
Evictions in Florida seem to be temporarily on hold, though the exact ruling is still unclear. The Florida Supreme Court put out a ruling that encourages all court clerks to stop issuing writs of possession until April 17th at the earliest. This means that evictions in Florida cannot be completed until then.
If your tenant has lost their job or is suffering from reduced hours due to COVID-19, they may be eligible for reemployment benefits from the state. To find out if they qualify for assistance, this coronavirus help guide issued by Florida will help.
Additionally, you can also direct renters who are struggling financially due to the COVID-19 pandemic to any county resources that may help them. Rental assistance is happening at the county level in many parts of Florida, so it is possible they would qualify for assistance in this type of local program.
At this time, there are no clear restrictions on showings, but the entire state is under a stay-at-home order, so showing a rented unit would likely be frowned upon as many of your tenants may be working from home and self-isolating in their units at this time.
Residential and commercial real estate services are being considered essential in Florida, so there are some activities you can do. Settlement services, for example, are still available.
Still, showing a rented unit at this time is a big liability, so it is better to wait until tenants move out before you begin showing any of your units as this is going to be safer for all involved parties.
Track Your Options
There is nothing you can do to make this situation disappear, but you can drastically reduce the amount of stress you feel by tracking your options. Keeping these resources saved so the information is there when you need; it is a great way to lower business anxiety.
Both you and your tenants might need to recruit some assistance, and these are the resources that can help you do just that in Florida:
|Florida COVID-19 Response Page
Florida COVID-19 Executive Order Listing
Assistance Hub For Florida Businesses
Florida Reemployment Assistance
In addition to these statewide resources, many counties have their own COVID-19 response pages. To find the appropriate resources for your area, search for “Florida COVID-19 resource county name,” and you will easily find these pages.
Make it a habit of checking for new updates on these pages every few days, and use them as a reference point when you aren’t sure what to do next with your business. The resources gathered by the state as well as the contact numbers are sure to be helpful as you move forward with your business at this time.