(WHTM) — The eviction moratorium that’s helping millions of Americans to stay in their homes, is also forcing some landlords to sell their properties.
The CDC extended the moratorium to October 3 to help renters who lost income. According to the Aspen Institute, more than 15 million Americans now owe $20 billion in back rent. They’ll have to pay it back, but some landlords are now selling off properties, cutting staff, and delaying repairs in order to pay their own bills.
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“I understand why the government doesn’t want people evicted and landing on the streets. It’s poor public policy. It’s not good for anyone. But you’re asking me as a private sector landlord to provide public or free housing. It’s not my role,” landlord, Gary Zaremba said.
In a survey of landlords who rent single-family homes, about half say they have tenants who haven’t paid rent during the pandemic.