COVID19 continues to spread across the world and the impact on renters and landlords is immediate and significant. Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Layoffs and loss of income continues to impact society as a whole and renters dramatically; and the subsequent impact on the ability to pay rent has greatly impacted landlords and property managers.”
Loss of income due to COVID 19 will greatly impact both landlords and tenants. Adam Almeida, President and CEO of TenantScreeningUSA.com states: “Civic leaders at all levels of society are struggling with the impact of COVID 19 on society as a whole as well as with renters who have faced sudden loss in income; and continue to scramble for ways to assist those in need.”
Millions of people are finding themselves out of work due to COVID 19. As non-essential companies have been shut down workers lose jobs and income dries up. Without a steady income many people are struggling with rent and across the country civic leaders are attempting to assist those in need.
From JD Supra (Mar. 19, 2020):
Notably, other localities have suspended all evictions, including the cities of San Francisco and Seattle and states like New York. (1)
Eviction pauses continue across the country.
From CNN.com (Mar. 16, 2020):
Under most of the suspensions, property owners can’t issue new eviction notices, and existing ones can’t be executed. Many courts, like in Chicago’s Cook County, have already shuttered for weeks, so eviction hearings have been paused, too.
Most of the suspensions last up to 30 days. Boston’s could last for as long as three months. (2)
Almeida states: “Without question the COVID 19 outbreak has caused enormous challenges to daily routines. Work from home, no school, social distancing, paying rent: all have an impact. And when a job is lost the challenge of paying rent becomes significant.”
A best practice may be to talk to your landlord or property manager. As the COVID 19 crisis has affected nearly every single sector of the economy, with an impact not felt since World War II, landlords and property managers may be accommodating.
Almeida states: “Tenants should talk to a landlord, especially now as relief benefits from the federal government may not kick in for a few weeks.”
As the country continues to maneuver through the current COVID 19 crisis people will still need to rent properties and landlords will need to conduct tenant screening.
And a best practice for landlords and/or property managers is to work with a well-qualified third-party tenant screening agency in order to remain in compliance with local, state, and federal changes in laws governing tenant screening as well as short-term executive orders.”
TenantScreeningUSA.com provides full-service tenant screening for landlords and property managers of any size and can greatly assist in remaining fully compliant with all existing law governing tenant screening. With a highly trained and experienced staff, TenantScreeningUSA.com can provide help to landlords and property managers with all their tenant screening needs.
Notes:
(1) jdsupra.com/legalnews/covid-19-update-for-landlord-industry-78234/
(2) cnn.com/2020/03/16/us/cities-suspend-evictions-coronavirus-trnd/index.html
