Did the Corona Virus Just Take Away My Rent Income?

At Kasteel Property Management, we see things from both the perspective of the tenant and the home owner.

Governor Herbert, of Utah, recently sent a shockwave through the industry by announcing Rent Deferment through May 15th in a press conference, without giving any details of what that meant. This sent a great deal of worry to Utah County property owners. One of the attorney’s, at the office that I have on Retainer, is also a Utah State Attorney, so my resources there were quickly able to send out a clarification of what the Governor was talking about. He “jumped the gun” a bit by bringing it up in a press conference earlier than his advisers expected. He quickly went to twitter to say it was only for those that qualify.

The Rent Deferment Program he was talking about is actually the same program my attorney’s office and the Utah Apartment Association were advising him on and had already been adopted by Kasteel Property Management. Although, this got our hearts beating pretty fast, and I’m sure yours too, we were a step ahead of it and we are already in complete compliance with what the Governor has enacted.

You may still be concerned about how this will impact you and if your tenants are going to be late or not. I will have more details on that after the 5th, which is the usual deadline before tenants get a late fee. As of right now, out of 145 tenants only about 13 replied to my first email and had asked for rent deferment. If a tenant qualifies my clients will get an email notifying them of what agreement was made. Any agreement made always has everyone’s best interest in mind. The goal is not to let tenants get behind on rent but to get them back on track as quickly as possible.

Kasteel Property Management is not taking any request for rent deferment lightly because we understand how it affects both the property owner and the tenant.

I don’t anticipate this being an issue that will impact most people. Most of the tenants have already paid their rent and, as usual, many more will pay right on the 5th of the month.

On a different but important note, Kasteel Property Management is a supporter of Operation Underground Railroad (O.U.R.). O.U.R. heroically rescues the most helpless and innocent from the most vile and evil. It’s hard to acknowledge the reality of it, but sexual slavery has rooted itself in our world and our country, and children are the victims of it. These children need to be rescued, and those running the sex slave industry need to be captured and prosecuted, and O.U.R. has the resources to do so. O.U.R.’s rescue mission doesn’t stop with bringing the children home either. It carries on by providing counseling and therapy to give the kids the best hope of recovery. O.U.R. is on the front lines of a dark, hidden war to fight the most filthy evil and protect the most precious innocence.

Kasteel Property Management is an abolitionist in this fight against slavery and is donating, on a monthly bases, $5 per month for each new property unit (door) that it starts managing as of September 24th, 2019. Our goal is to grow this donation to at least $500 per month. If you would like you can contribute to our fundraiser at https://my.ourrescue.org/fundraisers/kasteel-property-management. You can also contribute by helping us grow our monthly donation by referring your friends and family that need a property manager or are thinking about getting into real estate and have questions.

Please stay safe and healthy.

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