We Are Your Trusted Real Estate Advisors Through Thick & Thin 👊

Home is the safest place to be right now, but rest assured, this has not affected our mission or ability to make sure your real estate needs are being met. We are running our operation and are here for you to book appointments and schedule showings. By practicing social distancing, using virtual tours to live stream properties, connecting with you on social media, and of course, washing our hands, we are able to continue to provide you with the highest level of customer service, while also helping to flatten the curve. There is a lot of misinformation out there, so we have compiled pertinent information related to real estate in the City & County of LA.

1. Property Taxes are due April 10th

   However, beginning on April 11, people who are unable to pay on time for reasons related to COVID-19 may submit a request for penalty cancellation online.

   For more information, CLICK HERE.

2. COVID-19 Residential Eviction Moratorium

   The Mayor issued a temporary moratorium on evictions for non-payment of rent for tenants who are unable to pay rent due to circumstances related to the COVID-19 pandemic. These circumstances may include:

   • Loss of income due to work place closure or reduced hours due to COVID-19.
   • Loss of income or child care expenditures due to school closure.
   • Health care expenditures stemming from COVID-19 infection of the tenant or a member of the tenant’s household who is ill with COVID-19.
   • Reasonable expenditures stemming from government ordered emergency measures.

   For more information, CLICK HERE.

3. COVID-19 Commercial Eviction Moratorium

   No landlord shall evict a commercial tenant in the City of Los Angeles during this local emergency period if the tenant is able to show an inability to pay rent due to circumstances related to the COVID-19 pandemic. These circumstances include loss of business income due to a COVID-19 related workplace closure, child care expenditures due to school closures, health care expenses related to being ill with COVID-19 or caring for a member of the tenant’s household who is ill with COVID-19, or reasonable expenditures that stem from government-ordered emergency measures.

   For more information, CLICK HERE.

4. Mortgage Help for Homeowners Impacted by the Coronavirus

   Fannie Mae, Freddie Mac (the Enterprises) and the Federal Home Loan Banks are taking steps to help people who have been impacted by the coronavirus. If your ability to pay your mortgage is impacted, and your loan is owned by Fannie Mae or Freddie Mac, you may be eligible to delay making your monthly mortgage payments for a temporary period, during which:

   • You will not incur late fees.
   • You will not have delinquencies reported to the credit bureaus.
   • Foreclosure and other legal proceedings will be suspended.

   For more information, CLICK HERE.

   The situation is constantly changing, and with rent and mortgage payments due April 1st, we anticipate there will be many questions. As landlords ourselves, we advise that if you are unable to pay your rent due to COVID-19, you should communicate this information with your landlord (or whomever necessary) in order to reach a plan for repayment and/or resolution BEFORE the 1st. There will be defaults on rental payments for April due to the flawed thinking that the default will be excused in its entirety due to COVID-19. It is important to note that the current moratoriums protect tenants from eviction, but DO NOT necessarily protect commercial and residential tenants from other unintended consequences such as the loss of the option to renew their lease due to default in rent. This is just one example, and there can be others.