Real Estate

May 1 Rent Payment

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  • Apr 17th, 2020 10:25 am
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[OP]
Member
May 10, 2017
316 posts
192 upvotes

May 1 Rent Payment

May 1 will be my last rent payment that I'll be making before my lease contract ends on June 1 (I'm moving out).

For landlords, do you guys feel more secure that the rent payment would be made since many people are getting EI and CERB payment support from the government?
Or would May 1 and onwards be worse in terms of trying to get rent payment from tenants if lockdown persists?
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8 replies
Deal Addict
Jul 29, 2006
4140 posts
964 upvotes
My tenants have been letting me know that they received their EI/CERB and have communicated they don't expect any issues paying rent.

Question for you - are you moving out to another leased unit? What made you want to move out at this point in time?
Deal Addict
User avatar
Dec 27, 2007
1263 posts
690 upvotes
Oshawa
Are you asking if landlords are happy to receive their tenants rent payment?
Are you also asking if landlords feel they may have a difficult time getting it because of the lock down...where our unemployment rate sits at 7.8% and climbing?
Deal Guru
User avatar
Mar 23, 2008
12096 posts
8395 upvotes
Edmonton
DirtPoor wrote: May 1 will be my last rent payment that I'll be making before my lease contract ends on June 1 (I'm moving out).

For landlords, do you guys feel more secure that the rent payment would be made since many people are getting EI and CERB payment support from the government?
Or would May 1 and onwards be worse in terms of trying to get rent payment from tenants if lockdown persists?
What exactly are you trying to understand? Logic would say that the longer this goes on, the concerned landlords should be about getting their rent money. Many people who aren't employed aren't going to be getting their full paychecks anymore, regardless of support. And more companies will be experiencing financial issues, thus more people will be unemployed over time. We're only in the initial stages of something that none of us have any real experience with, so there's tons of uncertainty.

C
[OP]
Member
May 10, 2017
316 posts
192 upvotes
jonnyb wrote: Are you asking if landlords are happy to receive their tenants rent payment?
Are you also asking if landlords feel they may have a difficult time getting it because of the lock down...where our unemployment rate sits at 7.8% and climbing?
CNeufeld wrote: What exactly are you trying to understand? Logic would say that the longer this goes on, the concerned landlords should be about getting their rent money. Many people who aren't employed aren't going to be getting their full paychecks anymore, regardless of support. And more companies will be experiencing financial issues, thus more people will be unemployed over time. We're only in the initial stages of something that none of us have any real experience with, so there's tons of uncertainty.

C
No ill intention. Wishing the best for everyone :) . Just thought I would create a May 1 thread to read the thoughts of others.
Last edited by DirtPoor on Apr 9th, 2020 3:39 pm, edited 1 time in total.
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[OP]
Member
May 10, 2017
316 posts
192 upvotes
nx6288 wrote: My tenants have been letting me know that they received their EI/CERB and have communicated they don't expect any issues paying rent.

Question for you - are you moving out to another leased unit? What made you want to move out at this point in time?
I was working at a cottage town for 1 year and I signed 1 year lease contract to live close to work.
I have a few options for my next accommodation.
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Deal Addict
Jun 18, 2018
1333 posts
831 upvotes
Toronto
You didn't have to pay last month's rent deposit? I would say May 1st because bills and condo fees and everything else is still due (I know some cities have postponed things like property tax).
[OP]
Member
May 10, 2017
316 posts
192 upvotes
Electrah wrote: You didn't have to pay last month's rent deposit? I would say May 1st because bills and condo fees and everything else is still due (I know some cities have postponed things like property tax).
I requested and my landlord agreed to use my last month's rent deposit for a different (previous) month.
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[OP]
Member
May 10, 2017
316 posts
192 upvotes
Just paid May 1st rent to my landlord in advanced.
For other tenants, in my opinion, set aside fixed expenses like rent and take care of it as soon as possible before other variable expenses creep up with limited income (I'm living off CERB after being laid off).
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