It's understandable in many cases you have worked very hard to pay off the houses you rent out. Maybe it was through blood, sweat, and tears. Maybe it was through an inheritance. Maybe it was a flip you purchased it just to be a landlord. Whatever the reason is, that home is paid off.
Currently, we are seeing a pandemic in our societies. Many workers are being laid off, furloughed, their hours are being cut, their pay is being cut, their bonuses are being cut, in some instances, they are being fired altogether. Many are single parents, the only household income, or even being half of their family’s income, it hurts.
They are scared, they are worried, they are not sleeping at night. This type of stress leads to mental and physical exhaustion.
They did not anticipate this; they did not ask for this. It happened.
Ask yourself, what can you do to help? Are you in a position to waive their rent for a few months? Can you decrease their rent by a few hundred dollars for a few months? Can you buy their groceries? What can you do?
Ideally, landlords have their own mortgages on the homes they live in and they too have bills to pay, however, if you can help another, do it. What can you go without to help someone else get through life during these times of struggle?
Average tenants do not have savings, 401K plans to borrow from, they often live paycheck to paycheck, average or below-average credit possibly, thus the reason they are renting. I do not claim to know all the reasons for renters, I do know that we are all human, we can all help in some way.
Landlords, say you have a tenant out of work, can you use them in your own business to help compensate for their rent? Do you have a friend that has a business that may need help? Refer them.
Now is the time to pull together.
Landlords, are your plans to install a pool this summer? Are you planning a getaway or family vacation? How about you put those plans on hold and you help your tenants? This would be a great opportunity to show compassion and especially if you have children or grandchildren, it teaches them selflessness.
We could all do our part to help in times of need. Not just during a pandemic, in everyday hardships.
A kind gesture, a kind word, a token of appreciation.
You will reap what you sow. Marinate on that thought. At one point or another in everyone’s lives, they will need the assistance of some type. Are you willing to take this opportunity to be a giver and help? One day the tables may be turned, and you may need help. Maybe someone helped you along the way already.
Be the change that someone needs to help get through the hard times, they may, in turn, be the change that you needed in your own life.
Every man according as he purposeth in his heart, so let him give; not grudgingly, or of necessity: for God loveth a cheerful giver. 2 Corinthians 9:7
Are you struggling with paying your rent and other bills? Have you talked to your landlord?
Do not avoid them. You never know where their hearts are. You never know what they are willing to do to help YOU keep a roof over your head and possibly help your family.
If you have lost your job, hours cut, if you have been furloughed, whatever the case may be, they may be of some assistance. Though they may not be able to waive your entire rent for months or even give you a tremendous discount, there are possibly other areas you can work together. Does your home need improvements that you are willing to do in return for a reduction in your rent? Is there something around your landlords’ home or other rentals that you may be able to do to help reduce your monthly rent? Does your landlord have any connections that could possibly put you to work part-time or even full time during these times?
Talk to your landlord. The very worst thing they can say is “NO”. What, just what, if they say “YES”. You have nothing at all to lose and you have a great deal to gain. Communication is the key. No one knows what you are going through if you do not talk to them about it.
Jobless claims now exceed 16 million as shutdowns from the coronavirus pandemic widen and problems with getting benefits persist. (United States)
Unemployment claims pass 17 million in 4 weeks
Over 10 million Americans applied for unemployment benefits in March
These articles do not have to alarm us if we can ALL step in and help out
Share your resources, ideas, ways to help make ends meet!