As I’m sure you are all well aware, the whole world is currently facing a pandemic of respiratory disease, known as “COVID-19”. It is important for everyone to know that this highly infectious disease spreads through respiratory droplets. Which are typically released when an infected individual sneezes, coughs, or simply just talks!
In response to this threat to public health, the government has been forced to implement all kinds of bans and restrictions we were not prepared for. We have been required to stay home, wear masks, restrict our movements – locally and internationally. Needless to say, our lives, our worldviews, and the way we used to do things have changed forever!
Not only has our personal lives been tremendously affected, but our professional careers and our livelihoods even more so! Millions of people have lost their jobs, as most businesses have been seriously harmed by this pandemic. For this reason, a Federal Eviction Moratorium has been issued by the Centers for Disease Control (CDC). Its purpose is to assist those that have lost their income, to not get evicted during this time, due to not being able to pay their rent. It has been in effect since 4 September 2020, and will carry on until 31 March 2021. However, the possibility of it being extended for several months more is looming over the horizon…
As with implementations, such as social distancing and isolation, eviction moratoria are a necessary measure to help prevent the spread of COVID-19. This is done with the intention so that people can self-isolate and prevent the risk of contracting and spreading the disease by not moving to new locations.
Therefore, this eviction moratorium is a much-needed relief for renters under strain. BUT the truth is, it merely POSTPONES evictions… When the moratorium reaches its expiration date, back rent will be due. Meaning, renters will be many months behind on rent, and they will not be able to pay it back! With this knowledge, it is understandably the cause of terrible stress and concern for the millions of renters affected by this pandemic.
On the other hand, to maintain their properties, pay mortgages and property taxes, landlords rely on rent paid to them. They are facing a financial crisis themselves! In some ways, this is even more distressing. The problem is that the moratorium does not grant any alleviation for landlords. This means that in the end, this is exactly what will permanently detriment the very people it was implemented to help in the first place…
With no income themselves, housing providers are still expected to provide shelter to their unpaying residents, while having to meet their financial obligations. They face foreclosure if they don’t!
According to the National Rental Home Council, “Once the moratorium expires, renters will owe back rent for several months, and their landlords may no longer be in business.”
Struggling landlords are left with only two choices… To either fall deeper into debt or to sell their properties!
Are you one of these distressed landlords, who are overwhelmed and cannot see a way out of your situation? Contact us today and we will help you find the best possible solution to your particular dilemma!
Do you think America needs more realistic and judiciously constructed rental relief plans?
Are we in dire need of an emporium that will offer immediate relief to not only renters but landlords as well?
Leave us your thoughts and comments below!