Form of the month: Payment plan agreement
As you all are likely witnessing, the concerns regarding the spread of COVID-19 are having significant economic impacts on businesses and individuals around the state.
As a result, many of your residents may be experiencing serious financial hardships, making it difficult for them to meet their rental obligations in a timely fashion. CAA offers a form that may help owners navigate this challenging time while showing compassion for their residents.
Form CA-263 is CAA’s payment plan agreement form. It allows residents to remain in their unit while making payments on past due amounts in accordance with a mutually agreeable schedule. Before using this form, owners should confirm whether any local requirements have been adopted that limit the enforceability or use of these agreements in this context – CAA’s COVID-19 resource page lists the localities that have adopted measures limiting evictions of residents impacted by the fallout of the coronavirus pandemic.