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Top 5 Best Practices for the Expiration of Eviction Moratoriums

Top 5 Best Practices for the Expiration of Eviction Moratoriums
The end of eviction moratoriums may finally be in sight. After a series of extensions, the eviction moratorium now in place until October 3 – should be the last, on a national scale. The Federal Housing Finance Agency’s eviction moratorium for Fannie Mae and Freddie Mac-backed properties is slated to expire at the end of September. While state municipal moratoriums are still in place in certain markets, it’s time for multifamily properties to start preparing for the inevitable expiration of the pandemic moratorium era. For most apartment communities, the behind-the-scenes process needs to begin now. Below are five best practices to help position multifamily properties for the end of eviction moratoriums:  1. Have a plan ready to deploy To avoid losing time and additional revenue when moratoriums are finally lifted, property teams need to have a plan in place. It’s time to freshen up on corporate eviction policy and fair housing compliance, and assign eviction-related duties among teams. Teams also need to establish a plan to pursue debt recovery while the residents are still living at the community. Once a resident is evicted and moves out, teams are forced to chase that debt remotely and property management companies recover only a fraction of that revenue. Consider payment plans or helping residents apply for COVID relief funds, or loan assistance programs to help delinquent residents get back on track. While onsite teams have plenty to do preemptively, there will be an element of hurry up and wait once moratoriums are lifted. The number ......
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The Ultimate Guide to Tenant Eviction

The Ultimate Guide to Tenant Eviction
Ok, let’s admit it. Sometimes, even with your best efforts, things may fail to work out between a tenant and you. Being a good and honest landlord, unfortunately, doesn’t shield you from bad tenants who fail to honor their rent payments, damage property, or disrupt other tenants. Of course we all wish tenant screening was completely foolproof. But, unfortunately, even tenants with the highest qualification scores and best intentions may struggle to pay rent from time to time. While this is heartbreaking, especially if you have a good relationship with a tenant, you simply can’t put them up free of charge. It may seem harsh, but it’s just business, and just like any other, your main priority is protecting it. While evicting some tenants is just as simple as asking them to leave, the bulk of them may resist, forcing you to go through a formal eviction process. To manage this appropriately, you have to follow the right legal channels, otherwise you risk locking yourself in a civil suit, and probably damaging your reputation as a property manager or landlord. Here’s a brief, but comprehensive guide to assist you: Don’t Take Matters into Your Own Hands According to the Uniform Residential Landlord and Tenant Act (URLTA of 1972), and the corresponding state tenancy laws, it’s illegal in every state to take matters into your own hands, regardless of the tenant’s actions. Even if your tenant is physically damaging your property, causing extreme nuisance, or threatening to kill you, hiring a couple of Hulk Hogans to evict......
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