Tag Archives: landlords

New York’s $2.4 billion rental assistance fund has nearly run dry, prompting state officials to scramble for more federal funding to cover a backlog of thousands of applicants — and leaving cash-strapped tenants and landlords in limbo. Earlier this month, the Empire State made the surprise decision to halt new applications for its Emergency Rental Assistance Program (ERAP) program — an outgrowth of the controversial federal eviction moratorium that was ruled unconstitutional by the… Source link

Nearly a month after the U.S. Supreme Court designed to keep struggling tenants in their homes as COVID-19 surges anew, assistance is slowly going out to millions of people behind on their rent. More than $2.3 billion in federal emergency rental assistance went out in August to some 420,000 households, the most of any month to date since the money was made available, according to the Treasury Department. Despite the uptick in disbursements, however, millions are still living in fear of being… Source link

Facing a staggering amount of back rent, hundreds of thousands of individuals and families may be put out of their homes this year as the eviction moratorium comes to an end, according to research from Goldman Sachs. Following the Supreme Court’s decision last week to strike down the pandemic-era policy that kept renters in their homes despite being unable to pay, economists at the investment bank said on Monday that about 750,000 US households will ultimately be evicted later this year,… Source link

The Supreme Court’s decision last week to strike down the pandemic-era eviction moratorium may arrive too late for many struggling independent landlords, even as it appears to heighten the risk of eviction for tenants behind on their rent. Thursday’s decision by the U.S. high court found that the Centers for Disease Control and Prevention (CDC) lacks authority under federal law to impose an eviction ban, which was set to expire on October 3. The court stressed that Congress, rather than… Source link

The federal eviction moratorium, which has allowed struggling renters swamped by the fallout from COVID-19 to remain in their homes but left landlords mostly on the hook for unpaid rent, is starting to draw more fire from both camps. As the Delta variant drives a resurgence of cases across the country, landlords and tenants alike are speaking out about the shortcomings of the moratorium, which hasn’t resolved the fundamental issue of tenants unable to pay back rent — or property owners… Source link

The Biden administration’s move to extend an eviction moratorium has done little to resolve a looming crisis — or rising tensions between tenants and landlords, with both camps stuck in a cycle of mounting confusion and despair. For now, evictions are again on hold across the U.S.: tenants have until October 3 to obtain government help to pay their rent. However, the extension is already being challenged in court — spearheaded by — where it may not survive legal scrutiny. A growing… Source link

Amid positive national jobs growth and the looming threat of the Delta variant of COVID-19 threatening the economic rebound, the industrial real estate market has experienced tremendous growth in demand as people return to work. “Absolutely, if you are a landlord right now, it is the best of times because [the] industrial [sector] has had no slowing down,” Savills (LSE: SVS.L) Executive Vice President Gregg Healy told Yahoo Finance Live. “You can pretty much ask what you want for rent,… Source link