The moratorium was designed to help renters during the COVID pandemic to prevent them from being homeless but what about the landlords.?
Brandie LaCasse, a hard working landlord in New York, is one such landlord whose finances and credit have been desecrated by her tenants who have not paid rent and are living in her three properties rent free.
She is behind more than $23,000 for her three properties and is a single mother and former Air Force vet forced to live out of her car with her daughter while her tenants are living rent free.
With housing prices through the roof she could be foreclosed on if she doesn’t catch up on the payments and the blood and sweat equity she has built into the properties could all be lost and given to bargain hunter investors.
Government relief for her and other landlords in New York State has been approved but not paid, while her tenants have received benefits and may still be working but are excused from paying rent during the COVID crises.
Lose Lose situation …
The moratorium is supposed to come to an end at the end of the month but landlords have a greatly suffering for the past year or more considering many have not been paid by the their states to make up for the money that has not been paid to them for the moratorium
The Treasury Department has admitted that only 1.7 billion of 46.5 billion has been distributed to local and state governments.
This amounts to less than 12% of a total figure that has been allocated by Congress for the moratorium to support landlords who are not being paid rent
A recent study states that at least 10% of landlords have only collected half of their yearly rent during 2020 as well as one in five tenants reported who are drastically behind in their rent.
With help wanted signs on almost every corner in the United States several Democrats have taken a Republican approach in stating that these handouts have gone too far and that people have had more than enough time to get themselves together to pay their rent.Â
Unemployment and stimulus checks have not gone towards rent in many cases leaving landlords in a bind.
The homeless problem has reached epidemic proportions in the United States in major cities and putting families out during a pandemic could lead to a greater disaster but so could people who’ve worked a lifetime to own properties losing their properties and ended up living on the streets alongside them or before them.