How landlords and tenants can survive the pandemic together

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Tenants are struggling to pay rent during the pandemic. But homeowners also need money.Negotiation will be their best friend.

“Everyone wins if everyone is negotiating and everyone is feeling a little rushed,” said Kathy Braddock, Managing Director of William Raveis Real Estate, in NY1.

“It doesn’t help an owner to have a building completely vacant. It does not help tenants to be evicted or to find alternative accommodation. So how do you negotiate with your landlord to find a reasonable solution so that everyone wins in this horrible time, ”she continued.

Tenants are particularly concerned this week with the state’s moratorium on evictions expiring on August 15. About 21% of renters nationwide are concerned about eviction, according to the online rental platform Apartment List.

Braddock says tenants should discuss options such as rent reductions and monthly or shorter rental terms with landlords.

About 33% of people in high-density cities are the most likely to move, according to Apartment List.

But Braddock suggests taking moving costs into account when determining whether the choice makes sense. For those looking to get away, be sure to do some research on the neighborhoods and suggest creating a list of wants, wants and essentials.

Braddock was a guest on NY1’s One New York on Monday morning.



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