She was an incredibly successful Realtor, a member of the Million-Dollar Sales Club for more years than she would appreciate me calling out. In the twilight of a stellar career in residential brokerage, our friend was starting to shrink her own real estate portfolio, as she considered retirement, downsizing, and potentially a life at her beach house, one of three properties she owned and rented out, in addition to her very elegant and well-appointed home. Our friend sold her own home during the hot seller’s market, receiving an offer well above the asking price, during the spring of 2020. Soon after, during the beginnings of a declared national emergency, the CDC put in place a moratorium against evictions and foreclosures, if nonpayment of rent or mortgage was due to job loss or reduced income caused by the pandemic.

Months passed, no rent checks came, from the beach house, the townhome or the third residence our experienced Realtor owned. Meanwhile, all of her expenses on those properties continued... mortgage payments, insurance, property taxes and maintenance costs. She soon found that none of the tenants was putting much effort into finding or replacing that lost income and at least in one case, a sub-tenant may have actually moved into her property, paying rent to her non-paying tenant.

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Bill Crane is a syndicated columnist based in Decatur. He has worked in politics for Democrats and Republicans, respects the process and will try and give you some things to think about. Your thoughts and responses to his opinions are also welcome, bill.csicrane@gmail.com.

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