COVID-19 might have dominated every headline at the time.
Still, in this rapidly changing world, it's beginning to feel like a distant memory. Nevertheless, some things remain, like the financial impact on residents in Utah as they start to rebuild their lives and financial foundation after the pandemic.
As a landlord, this means you need to be mindful of some of the long-term impacts of COVID-19 on your real estate business, such as post-COVID evictions. Here is everything you need to know.
Eviction Trends in Orem Since COVID-19
The uniqueness of the pandemic caused financial hardship for some people, unlike any modern-day government had seen before.
Tenants who struggled to pay their rent during this period had extra protections at the state and federal levels, which halted evictions that might have otherwise happened due to rent nonpayment.
As those protections were lifted, things got back to normal. Nevertheless, some underlying market ripples prevail because of the pandemic, such as high tenant turnover and a trend towards more rent arrears.
The Current Landlord Eviction Process
While restrictions on evictions may have eased, it's essential to understand that eviction laws are still stringent, and there are specific regulations to protect tenant rights.
As a landlord, you must be aware of these so you can follow the correct eviction process. Here are some rules you should know:
- You must provide the tenant with formal, written notice
- You can't take steps to forcibly remove a tenant (like changing the locks) without a court order
- You must give three days notice of your intention to evict for nonpayment of rent
Always check the latest regulations for any recent changes or updates. That way, if your eviction goes to court, you can demonstrate that you've followed all the correct eviction notice guidelines.
It's the best way to protect your real estate investment from the costs and risks of tenant evictions.
Tenant Rights in Orem and Hardship Issues
One of the remaining issues in the post-pandemic world is finances, especially with the high inflation that has been a feature for the past few years.
You should consider how you will handle situations such as a tenant struggling to pay rent on time. After all, it's always best to try and resolve the situation amicably rather than go through the more difficult and uncomfortable route of an eviction.
The first step is keeping communication lines open. In the long run, it's better if tenants feel they can approach you with a payment issue.
Second, explore repayment options for a delayed payment date. If the tenant has short-term hardship issues that will be resolved soon, you could also consider waiving any late payment penalty to prevent further hardship.
Lastly, consider using an online payment portal that makes tracking dates and amounts easier for you and your tenant. Reducing the admin overhead for your tenant will help keep those payments on track.
Evictions: Handling a Post-COVID World
The pandemic undoubtedly changed many aspects of life, including your real estate business. Things are now beginning to change again, underlining the importance of keeping updated with the latest laws on evictions.
Our trusted, locally owned team at PMI Reliant is well-placed to help with any property issue, including evictions. Discover our comprehensive range of services for Orem, Utah.
