Rental housing insecurity is not evenly distributed throughout the country during the best of times. Eviction impacts depend on local/state moratoriums and available renter resources.
Eviction Moratoriums
The new CDC Temporary Halt in Residential Evictions applies only to renters in areas of the nation currently facing elevated COVID-19 transmissions. With COVID caseloads surging in every nook and cranny of the country, this temporary eviction halt applies to approximately 90% of all renters. This temporary halt is to run through October 3.
Tenants who qualify for this temporary eviction halt (via pandemic-induced excessive medical expenses and/or income “disruption”) will still be responsible to pay their past-due rental payments and can still be charged late-payment fees.
2021 Local & State Eviction Moratoriums
Depending upon where renters live, renters will experience eviction moratoriums differently. Two-thirds of the country’s metro areas indicate that at least 50% of renters are vulnerable to eviction over the next two months.
Detroit is clearly the leader in terms of 79% of its renters having eviction vulnerability. Dallas-Fort Worth, Houston and Philadelphia follow Detroit with 60% of their renters facing potential eviction impacts.
Take a look at this list:
- Detroit – 79% of its renters
- Dallas-Fort Worth, Houston, Philadelphia -60% of renters
- Miami-Fort Lauderdale – 59% of renters
- Seattle-Tacoma – 58%
- Chicago – 57%
- Riverside-San Bernardino – 57%
- Washington DC – 56%
- Los Angeles – 56%
- San Francisco-Oakland – 54%
- Atlanta – 44%
- Boston-Cambridge – 40%
- Phoenix – 25%
- New York City-Newark – 24%
Landlord Takeaways
Landlords can best serve themselves by working with their tenants. Where renters feel the more secure about being able to remain in their homes, the more they will dottier very best to tap into rental assistance that can benefit both the renter and the landlord.
Rental assistance is, in fact, available in every state though some states have more resources than others. Landlords would do well to share information about time and date deadlines, mandated grace periods, federal rental assistance funding (hindered by too complicated applications and t-o-o s-l-o-w payouts), etc.
Landlords – help provide tenants with clear, consistent, and structured (re)payment plans so both you and your tenants are on the same page. Building goodwill in your community is always good business.
Offer your tenants the composite listings of Treasury-funded Emergency Rental Assistance programs throughout the county.
Thanks to Millionacres.
