Behind the rent? In danger of being deported? Here’s What You Need To Know – CBS Sacramento
MIAMI (CBSMiami) – The Biden administration has extended the federal moratorium on evictions until June 30, 2021 – a new stay for tenants behind in their payments.
But on July 1, Brian Carberry said, “I think the main thing people need to remember is that just because the moratorium is extended doesn’t mean tenants won’t have to pay back part of the rent. they must.
Carberry is the editor-in-chief of Rent.com, a nationwide tenant locator service with a huge rental database.
“If they can’t pay their rent now, the next three months they won’t be able to pay rent,” he said. “And in June, they’re just going to owe more money at the end of it.”
Stimulus funds might help, unemployment checks might help, local and state programs can help settle tenant obligations. But as we’ve learned from food distribution agencies, it takes 18-24 months for unemployment to recover when the economy picks up.
“When this moratorium ends, there will be people who will owe thousands of dollars in rent in arrears. There is no right way to help people, ”Carberry said.
And there are the owners – big companies with mega-loans who have started to go through eviction formalities. Moms and dads are also strapped for cash with mortgages to satisfy.
“Homeowners pop, renting a room in their house, whatever, they still have a mortgage to pay. If they depend on that rental, they also suffer, ”Carberry said.
On the horizon, the potential, says Carberry, “Ultimately, to get that money back, you may see some landlords raise the rent when it’s time to do it to get some of that money back.”