Iowa Real Estate Investors Association &
Iowa Landlord Association

Links to resources for COVID-19 related news which may directly, or indirectly, impact the business of our members or industry stakeholders, including:
                    •  Residential Rental Property Owners
                    •  Residential Rental Property Managers
                    •  Real Estate Entrepreneurs 

 

Short Executive Summary of the Immediately Pertinent Action Items:  

Results of our "Survey on Governor's Proclamation & the Courts regarding Evictions Moratorium".   (106 Responded as of May 5).  Also -- Responses regarding delinquencies

URGENT ALERT! - 
ACLU and 22 Agencies petition Gov. Reynolds to extend the moratorium for 45 days!  

DM Register Article - Headline News Story -- May 23 in Sunday Paper 
We expect to petition the Governor on May 26 with a letter of our own.   
 

Q. You mean to say that I cannot evict a non-paying tenant? 
A. Yes.  Sad but true.  No hearings for eviction will be heard before the courts (unless for "Clear & Present Danger" or squatters)  until at least May 27 (per Governor) but likely June 15th (per ISC).   Some magistrates may offer hearings by telephone for emergency evictions

If you serve a 3-Day Notice to Pay Unpaid Rent you cannot enforce it.  If you cannot enforce it, there isn't much use in serving it.  We recommend instead, you send a letter which reminds them that after the moratorium is lifted, unpaid rent could force action that is not beneficial to either party.   

Also, we recommend you do not assess a late fee during the months of April & May,  though we have not found where the Governor stated you could not assess late fees.  (Feel free to notify the office if you discover otherwise).  

Q. If I have a financial hardship because of this Evictions Moratorium. Can I transfer funds from their "Security & Damage Deposit" to cover rent for a month, or my operating expenses?   
A. We don't know.  Legally, it seems reasonable.  Should you choose to do this, we recommend you get an agreement in writing in which your tenant(s) agree(s) to replenish the deposit at a specific payment rate every month, until the original required deposit has been replenished. 

We've heard of cases where the property owner or agent entered into such an agreement then spread the replenishment over the next 12 months, but they also got the tenant to sign a lease extension at this higher rate.       

There is a moratorium on foreclosures of government backed loans; FHA, VA, Dept of AG, and loans purchased and held by Fannie Mae (FNMA) and Freddie Mac (FHLMC).  There is not, that we know of, any across the board moratorium or automatic forbearance on conventional mortgage payments.  Consult your lender.  


Any information a reader has that can improve the accuracy of the above is welcomed!  

Please contact us at
info@IaREIA.com
or (515) 274-0300 or (515) 710-1955 or (515) 255-0675  

Business Loans from CARES Act + Mortgage Loan Info

- SBA EIDL Advance Loans -- A report which includes Iowa, as of April 24, 2020
- SBA PPP -- Loan Information for Self-Employed (Schedule C Filers)  
- Inc.com -- SBA's $10,000 EIDL Loans Come with New Caveats
- CARES - Small Business Paycheck Protection Program (PPP) 

- CARES - PPP  Fact Sheet for Borrowers 
- CARES - FA$TRAK PPP Application for Borrowers
- SBA Loans How-to -- EIDL (Emergency Injury Disaster Loan)  
- SBA EIDL Advance -- You may be eligible for a $10,000 Advance  



Statewide Proclamations and Issues

Proclamations of Governor Reynolds
2020.04.27 - Proclamation extends Evictions Moratorium through May 27, 2020 - see Page 20 for specifics.  NOTE: "Iowans should not expect that I will issue any further extension of this suspension past May 27, 2020"   
2020.04.02 - Proclamation - see Page 17 for Suspension of Foreclosures and Certain Evictions 
2020.03.20 - Proclamation includes eviction
moratorium 
                               
Iowa Judicial Branch - Supervisory Orders
- 2020.04.02 - This is a combination of seven (7) Supervisory Orders, since March 12 - See Paragraphs 23 & 26 in re: Evictions (FED's) and Original Notices 
2020.03.17 - COVID-19 Impact on Court Services 
                   

Legal Issues for Landlords
- Iowa Legal Aid "What you need to know about Evictions" - updated 4/2/2020 - Great resource!  (We could try to duplicate the above link yet we don't have 10 lawyers & a covey of staff people on the payroll.  Thus, here is a valuable resource which an organization with a BUDGET is diligently keeping up-to-date.  We highly recommend our Landlords and Property Managers review this information).  


Local Issues -- Pertinent updates for Municipalities across Iowa 

Email correspondence -  SuAnn Donovan, Zoning & NID Administrator, City of DSM  - in re: Inspections, HAB, etc. 


National REIA Bulletins & COVID-19 Related News

Updates from National REIA on COVID-19 for Investors  


Links of General Interest COVID-19 Resources

(Please let us know what else should be here!)  

- World & United States statistics on COVID-19 - provides latest case counts
CIDRAP.umn.edu -  Center for Infectious Disease Research and Policy 
- http://coronavirus.iowa.gov/ - Covid-19 in Iowa
- The Stimulus bill called CARES -- where the money will be allocated.  



- Iowa Workforce Development  
- Hotline for COVID-19 Questions answered 24/7 - (800) 244-7431
- Iowa COVID-19 Legal Issues HotLine -- (800) 332-0419  (Line is actually served by Iowa Legal Aid.  Not much help to Landlords, unfortunately).  




Scientific but short video review of the Coronavirus commonly known as COVID-19  (a/k/a SARS-CoV-2) . 
Clicking the picture leads to a 5-min. Youtube Video. 

Contact Us

Iowa Real Estate Investors Association

2175 NW 86th St Ste 16
Clive, IA 50325-5557
(515) 255-0675

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