Hello everybody my name is Cade Olof and welcome back to Suburban Snacks. We have a new snack this month…candied Green Valley Pecans!
In this episode, we’ll be going over the recent Supreme Court decision to end the Eviction Moratorium. Now you may be wondering, “Didn’t we already do a video on this topic?” Well you’d be right but right after we made that video, the CDC ended up extending the moratorium even further. But as of last Thursday, the Supreme Court in a 6-3 decision found the CDC’s moratorium to be unlawful. So for anyone watching who has no idea what’s going on, allow me to catch you up.
As of September 2020, the CDC banned landlords from being able to evict tenants for nonpayment of rent. The moratorium affected many mom-and-pop housing providers which make up half of all rental housing in America according to Realtor Magazine. The problem is that these rental owners have now been facing financial hardship for a year. With mortgages to pay, but no rental income being collected, some owners found themselves in a really tough spot. But they need not to worry anymore because the moratorium has been lifted.
What does this mean for renters who are struggling to pay rent? Well the National Association of Realtors says that the best solution for all parties is rental assistance. Nearly $50 billion of aid is now available for renters who need the assistance. They say that every state has started a program to distribute the funds. So if you are a tenant looking for financial support you can visit your city’s website and look for eviction assistance.
I think it goes without saying but no housing provider wants to evict a tenant. Property owners and tenants are on the same team, so the focus now for the National Association is getting all the assistance readily accessible for tenants. However NAR cautions all landlords that some state and local governments may still have their own moratoriums in place. If you don’t know where you stand, make sure to visit your city’s website to check on the status of your guidelines.
That’s going to do it for us here at Suburban Snacks. If you have any questions or would like to get into contact with us feel free to check out our website at suburbanrealestategroup.com. Also make sure to follow us on Facebook, Instagram and YouTube all at Suburbanrealestategroup. Thanks for watching, my name is Cade Olof and we will see you in the next one!