Latter & Blum PM Cares
We’re Here to Help
Our Commitment to Residents and Tenants
This crisis is testing all of us. We know that many families and businesses are facing financial pressures as businesses have been forced to scale back or close. We are committed to helping our residents and tenants during these trying times.
WE’RE HERE TO HELP
If you have suffered financially because of the outbreak, please tell us about it.
While certain jurisdictions have eviction moratoriums that have been put in place, they do not relieve residents or tenants of paying their rent or complying with their lease. Again, we are committed to helping those directly impacted by the pandemic. For those of you not financially impacted by the pandemic, it is critical that timely rent payments continue so that we can continue to pay our employees, maintain the cleanliness and safety of our managed apartment communities, homes, and commercial properties, and meet our other financial obligations like mortgage, tax, and insurance payments.
To that end, the federal government is committed to providing significant resources to support those affected by the COVID-19 crisis. This includes an extension of unemployment benefits, direct payments to Americans and assistance to select industries to get people back to work. Many Americans are receiving economic stimulus checks and direct deposits during the month of April. We hope that these support mechanisms will help your household finances.
Similarly, the CARES Act provides significant resources to small business owners. We are strongly encouraging all small business tenants to pursue a Small Business Administration (SBA) 7(a) loan as their first step for rent relief. These loans have no fees, low-interest rates, deferred repayment, and many commercial tenants are expected to qualify for debt forgiveness. Borrowers will be eligible for debt forgiveness for rent paid with SBA loan funds over a period of eight weeks following loan origination. Should you qualify for debt forgiveness, proof of payment of rent for the relief period covered by the CARES Act will be required. We encourage you to seek the advice of your accounting professional and work with them during the loan application process. The SBA loan application process can take several weeks, so please let your property manager know if you have applied and intend to pay rent from those funds. We will work with you on the timing of rent payments when you provide confirmation of your application.
We also know that many of you are working from home. Please let us know if there is anything we can do to make this transition smoother.
FOR NOW, WE ARE HEARTENED BY THE STORIES OF NEIGHBORS HELPING ONE ANOTHER – FROM GROCERY SHOPPING TO CHECKING IN ON EACH OTHER. COMMUNITIES WORKING TOGETHER TO STAY SAFE IS WHAT WILL GET US THROUGH THIS CRISIS, AND WE ARE HERE FOR YOU. THE STEPS WE’RE TAKING WILL SAFEGUARD THE COMMUNITIES WE SERVE AND WE APPRECIATE YOUR WILLINGNESS TO HELP.
We are dedicated to providing stellar Property Management services to our residents, tenants, and clients throughout the Gulf South. We are proud to be here to serve you during this challenging time and beyond.