About This Page
This page was released on April 28th, 2020. The main purpose of this page is to provide landlords and tenants the resources they need to navigate the new challenges we are faced with due to the COVID-19 crisis.
Dear Tenants and Landlords,
We put this page together as an information source for all of you. I want to remind everyone on both sides, including landlords and tenants that this is a difficulty time for everyone. Many people are unemployed, having trouble paying rent, many people are having trouble paying mortgages and it s very important that we all communicate with one another to be upfront about the current situation.
Some of the links, blogs, and videos below will assist you in navigating this problem. If you don’t find what you need please feel free to reach out to us.
-Anthony Lamacchia, Owner LPM
During this inconsistent and ever-changing time here are some recent resources to help you understand what is happening and keep you informed.
Being a landlord can be a lucrative source of income, but it comes with its own set of challenges. A key duty for landlords is the collection of rent from their tenants. Although this might appear to be a simple task, there are various factors to consider guaranteeing efficient rent collection. Here are some tips
Tenants, your landlord should be staying ahead of the winter maintenance of your rental, but you are still responsible for keeping up with some important maintenance tips during the cold weather season to keep you warm and safe. When temperatures plummet, the risk of your pipes freezing increases drastically. Frozen pipes create nothing but problems
Winter is just around the corner, and for those who own residential properties, it’s crucial to be aware of your legal duties concerning snow clearance. Depending on the state you reside in, there are specific laws governing snow removal. Additionally, your local city or town might have its own ordinances or by-laws that further specify
Tenants, be sure to keep up with the government-assisted programs that are being developed and passed to ensure financial aide to those in need.
As of Wednesday, March 25th, The Division of Banks on behalf of Governor Baker called for all regulated financial institutions to follow new guidance to accommodate borrowers who are affected by COVID-19 and cannot make timely payments. These actions include:
60-day postponement of foreclosures;
60-or-more day grace period for late mortgage payments that includes waiving late fees, online payment fees, and reporting to credit agencies;
Offering borrowers an additional 60-day grace period to complete trial loan modifications;
Ensuring the consistent availability of account management and customer service capabilities for borrowers, even if the mortgage servicer closes its office; and
Providing proactive outreach to borrowers explaining what assistance they offer.
If you are concerned about paying your mortgage, be proactive and contact your mortgage company right away. Many of them are allowing delay of payments until summer without impacting credit. Be sure to CONFIRM DIRECTLY WITH THEM and don’t take it from us.
Landlords, be sure to keep up with the government-assisted programs that are being developed and passed to ensure financial aide to those in need.