1470 Elm Ave rent collection update
Hello Investors, we are having our first collection issue at the property, albeit minor. One tenant is a month and half behind which will be affecting distributions along with some higher than normal maintenance issues at the building. There will still be a distribution but it will be smaller than normal. We helped the tenant apply for rental assistance through L.A. County which they were approved for. Now we are waiting for the lottery results which is how they are currently assisting tenants. We’ll keep you updated and know that we are doing everything we can to collect and still work with the tenants in a compassionate way. There are no vacancies and all other tenants are 100% collected!