3 Important Facts Landlords Need To Know About the Eviction Moratorium
We all know this: COVID-19 has not been easy on anyone.
From people fearing for their well-being to millions losing their jobs every single week, our country continues to reel from the impact of the virus. Many people cannot pay their rent or bills and fear losing their housing.
As a landlord, this tears you in two.
On one hand, you don’t want to have to evict families who don’t have anywhere else to go. On the other, you’ve been hit hard as well. You can’t afford to have people not pay.
Earlier this month, the U.S. issued an eviction moratorium, saving millions from immediate eviction.
But what do you need to know about this?
Read on to learn more information on the eviction moratorium.
1. What Is the Eviction Moratorium?
The eviction moratorium puts a stop on the forced eviction of individuals and families from places they lease or rent.
Under it, landlords cannot evict their tenants unless they fail to qualify for the moratorium. In its write up of the moratorium, the Center for Disease Control and Prevention (CDC) said COVID-19 has put many Americans at a financial disadvantage.
It lasts from September 4th through December 31st, 2020.
2.To Whom the Eviction Moratorium Applies
The eviction moratorium may not apply to all of your tenants.
In order to avoid eviction, your tenants must furnish you with a declaration made under penalty of perjury. The declaration should state the person attempted to pursue government assistance to pay for their housing.
They must also establish they made less than $99,000 in 2020 if they are an individual. If they file a joint tax return, the amount should be no more $198,000. Alternatively, they may prove they were not required to file a tax return.
They can also state they obtained a stimulus check.
Also, they must establish they are unable to provide rent payment due to a loss of income or extraordinary medical costs.
Your tenant must also provide you with partial payments, paying as much of the rent as possible given their current circumstances.
In addition, the individual or family must have no other available housing options.
3. Why It Was Created
Why did the CDC issue the moratorium?
It boils down to disease prevention.
COVID-19 is an airborne virus that passes between people with ease. This is especially true if people are out and about or going into areas where they will be in close proximity to others.
Throughout the year, health officials and various members of the U.S. government have recommended social distancing. For many people, this has meant staying in their homes for as much as possible and taking precautions when going out.
When people are evicted, staying home is no longer an option. They need to move and come into contact with a real estate agent in order to get a new home.
As such, the CDC feared evictions would further COVID-19 spread.
Need to Contact a Real Estate Agent?
Despite the eviction moratorium, many people have still been forced to move during COVID-19.
Perhaps they didn’t qualify under the moratorium or they accepted a job offer in another location. Either way, they find themselves suddenly in need of new housing.
If this sounds like you, don’t hesitate! Find a real estate agent with us today!