Pub. 5 2020 Issue 4

10 www.ctaahq.org payments will continue to grow unless Congress acts when it returns from a break in September. The Democratic-led House of Representatives passed a bill in May that extends the $600 additional weekly unemployment through the rest of the year. Still, the Republican-led Senate is trying to shrink or eliminate the payment. Multifamily trade groups are lobbying for a set of compre- hensive relief packages that include reinstating enhanced unemployment aid, housing-specific assistance and an end to blanket moratoriums. “Lawmakers in Congress and the Ad- ministration need to come back to the table and work together on comprehensive legislation that protects and supports tens of millions of American renters by extending unemployment benefits and providing desperately needed rental assistance,” NMHC president Doug Bibby said. Is the Worst Yet To Come? There is no consensus way to view eviction, even among prop- erty owners. Some owners want to keep properties occupied, while others would rather move out non-paying residents. Eviction moratoriums for residents who lost jobs through the pandemic are humane, but blanket prohibitions pre- vent landlords from removing residents who are violent, threatening to neighbors or inflicting property damage. In markets with weak demand and high vacancy rates, owners may be more willing to extend forbearance because there is little potential to bring in paying residents. In areas with strong demand, owners might prefer to evict more quickly to bring in paying customers. Though it might seem that residents and owners are on dif- ferent sides, in reality, what is good for one is good for both. Owners don’t want vacant units or to spend time and money in court. Rent payments help owners to pay mortgages and maintain the properties for the benefit of residents. Though a large wave of evictions hasn’t occurred and doesn’t seem imminent, apartment residents are facing an extraor- dinary hardship given the loss of jobs that is likely to persist beyond this year. Eviction moratoriums are not a long-term solution, and the payment calculus can deteriorate rapidly, de- pending on the state of the economy and government policy. “The industry remains encouraged by the degree residents have prioritized their housing obligations so far, but each passing day means more distress for individuals and families, and greater risk for the nation’s housing sector,” Bibby says. “If policymakers want to prevent a health and economic crisis from quickly evolving into a housing crisis, they should act quickly to extend financial assistance to renters.” Source: multihousingnews.com There is no consensus way to view eviction, even among property owners. Some owners want to keep properties occupied, while others would rather move out non-paying residents. Eviction moratoriums for residents who lost jobs through the pandemic are humane, but blanket prohibitions prevent landlords from removing residents who are violent, threatening to neighbors or inflicting property damage. Continued from page 9