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The moratorium has to end at some point and you cannot put owners in a situation in which they are supposed to eat losses in perpetuity. Landlords will work with tenants that are generally reliable because it’s easier than an eviction. Those that are facing eviction are the ones whose behavior or payment history indicates it’s time to find a better renter.
Rents are up 11% to 17% in one year. Let’s wait for progressives to blame that on Landlords and not bad tenants or policy. Go….
The entire United States is facing an affordable housing crisis. Indianapolis is no exception. Many landlords are deciding that rentals that used to be good investments providing for retirement are afraid of future government interference. I am a Property Manager in Indianapolis with a specialty in affordable single-family home rentals. 30% of our Investor owners have decided to sell as the renters move rather than continue to lose money. Available rental inventory is at the lowest I have seen in my 41 years as an Investor. The Affordable Housing crisis has increased partly due to the eviction moratorium. The short-sided thinking of the government has created a much longer-term problem that will pl;ace a burden on low income renters for years to come.
That’s insane man. From an investor prospective I can see why.
Cue the Democrat wailing
What happened to unemployment money, the additional $600/week, then and now $300/week. Plus the stimulus checks, plus the additional funding available to tenants? Due income home, doubles that money. I am not saying put these people on the streets, but I ask the question to where the money went. Bad decisions, vacations, new cars, other priorities. As a landlord of my last condo unit, I worked with my tenants and ate thousands to keep them comfortable, but if I still had multiple units, I would not have been able to do that. Landlords are generally long term investors, so cash flow is low.
Second thought – why is the Federal Government continuing to pay for peoples day to day living when they are also receiving the extra $300/week, in addition to the continued unemployment. The math doesn’t work for me.
I hope when school goes back any day now, people will be able to get back to work and back on their feet.
100% agree with this comment. I’m landlord my self and the math doesn’t add up. People “have” money but for some it just vanishes into thin air. That’s not the property owners fault and they can’t foot the bill forever.
I agree 21R. and would add that the CDC had no right or authority to impose such a mandate. I know that this was new territory so to speak, but it is still a gross violation of civil rights and private property rights of many Americans. The US Supreme Court has validated that and I hope we have learned a lesson in that even in emergencies and unusual circumstances, the rights protected by our constitution must be upheld.