Landlords across the country are expecting fewer people will be able to pay the rent this month. The economic downturn has led to tension between property owners and tenants. But here in Houston, most are keeping a level head.
Nearly one-third of American renters failed to pay their April rent on time. However, in Houston it's a different story. The Houston Apartment Association's President-elect John Boriack says here most properties reported less than ten percent of renters couldn't pay. What's the difference? He says both sides are willing to negotiate. For example, landlords have waived fees and offered discounts in some cases.
“It’s been very encouraging. I know in other parts of the nation, there’s some animosity and rent strikes and things like that. But, Houstonians are smarter than that. They know that doesn’t work, and that at the end of the day, we are all going to be better off if we work together,” Boriack said.
Boriack, who is also the President of Veritas Equity Management, says government loans have helped local businesses. However, he says the best way to help both landlords and tenants is everyone going back to work.