Old Bay Insurance Agency Blog
It is vital to know the basic facts to consider. Whether you are a property owner or renter, and especially during a pandemic. Here are some quick points that you can refer to in case you have concerns about renting.
Late or Inability to Pay Rent
If you are a renter and you find out you’ll not be able to pay for the month’s rent, contact your landlord immediately. You may ask for partial payment, if possible. Try to make your payment plan to reflect what you afford as of the moment.
You’re still accountable for late payment charges unless the property owner waives this fee. Remember that late fees should not be more than 10% of your periodic rent or the balance due. This applies whichever is less.
Rules For Eviction
You may still be subject to eviction if you do not pay rent. The rental properties owner may start the eviction procedure, but it's not necessarily an immediate movement. You may check your eviction page to know more about this. Also, you can show written proof that you’re affected by a coronavirus that results in the postponement of your rental payment.
Breaking of Lease
Some states do not allow the breaking of the lease. Talk to your rental property owner for a contract agreement and review it. You may also ask the owner for other options.
In case there are other concerns, you can contact your local Housing Assistance hotline or visit their state website. They can also provide you referrals on additional services.
Showing Units To Prospective Renters
Ask your landlord to give provisions when showing prospective renters the units in the building. There should be a safety measure to keep everyone in the building secured from any possible virus transmission.
In case someone in the building has COVID-19, the property owner or manager shall do the appropriate actions without compromising the benefits of current and future renters.
Check the facts below for a better guide during this time:
Do you want to give yourself additional peace and security during this crisis? Get rental property insurance from your reliable insurance provider to experience that utmost safety.
At Old Bay Insurance Agency, Inc., we do our best to make sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (410) 777-5390 or Click Here to request a free quote.