I own a four-unit apartment building that I bought with a mortgage and a down payment via a loan from my 401(k) retirement account. I have a middle-class income and am not independently wealthy. If things with this virus get worse, my rental business may not survive this.

Various government entities are asking landlords to be compassionate toward renters who don’t pay or make late payments because of lost income during this virus situation.

Fine. But, if I take care of my tenants, who takes care of me?

If I don’t collect rent, then I can’t pay the mortgage and I am out my property, business and my home.

I propose that at some level of government, support/funding that reimburses the independent landlord for lost income due to non-paying tenants or extended vacancy caused by this virus is implemented. Another idea would be to suspend mandatory 401(k) loan repayments that come with a 25% early withdrawal penalty imposed by the IRS for late or missed payments. If I did not have to make those 401(k) loan repayments that would free up about $900/month that I can use toward a mortgage, thus allowing me the financial flexibility to be compassionate toward my tenants.

Short of financial assistance from the government that supports me, I don’t know how the government can expect small, independent/not wealthy landlords to just accept the situation and not evict non-paying tenants.

At some point it becomes a matter of survival. It is either them or me, and I don’t intend to lose my home or business as part of being compassionate.