Did you know? A recent federal executive order bans all evictions through the end of 2020. This is in response to the economic hardships being felt by many Americans due to the COVID-19 pandemic. Naturally, the intent of this ban to to keep struggling Americans in their homes during these difficult times. While this is welcomed news for many renters throughout the country, it is also passing the burden to the property owners.
As a matter of fact, approximately 40% of rental units owned throughout the country are owned by “mom & pop” owners. In other words, almost half of all landlords are everyday people that have invested in income producing properties as a way to diversify their incomes. With this current moratorium on evictions, these property owners are left holding the bag & therefore being put in financial hardship. Simply put, America’s rental housing providers cannot forego revenue and still maintain the nation’s much-needed housing stock of rental housing.
The National Association of Realtors (NAR) recently met with the leaders from President Trump’s administration to highlight these concerns. The NAR is urging Congress to provide emergency rental assistance programs directly to housing providers, who fear financial ruin due to the prolonged lack of rental income.
Are you a landlord? Are you thinking about investing in income-producing properties? Call Live South Florida Realty, Inc. today & let our knowledge and experience work for you.