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So, the moratorium was extended again, till July 31, 2021.
This has created such a tangled web for both residents and property owners the likes of which we’ve never seen in our lifetimes.
While the moratorium has given residents some much needed breathing room, there is a huge amount of back rent coming due to all the property owners who were not receiving rent for their properties.
Both groups have suffered hardship but we would submit that for property owners, the burden has been greater as they have still been held accountable (without rental revenue) to pay property taxes and maintain insurance and property upkeep!
To compound this, the agencies handling the “relief” funds have done a less than admirable job disbursing funds and the property owners have been last in consideration. In some cases, the funds have gone into residents’ hands with no accountability to make current their back rent.
Our industry association, NARPM, was compelled to file lawsuits and write to members of Congress (some action taken in tandem with the National Apartment Association and Manufactured Home Association) to enact some action that gives immediate relief to property owners and attempt to address the housing shortage and administration of relief.
As the nation “opens back up” for business and vaccinations march on, we hope to see some positive trickles of resolution.
As we head into the Independence Day weekend, let’s all aspire to assert our independence from Covid 19 and government reliance. FREEDOM!
