What Mom-And-Pop Landlords Can Do To Relieve Eviction Ban Pressure
February 12, 2021 11:10 AM Natalie Campisi - Forbes Advisor
Posted:
Updated:
February 14, 2021 7:33 AM
Earlier this month, the Centers for Disease Control and Prevention (CDC) extended the renter eviction moratorium through March 31, which is good news for renters impacted by Covid-19. But the ban is putting additional pressure on small landlords, known as “mom-and-pop landlords,” struggling to pay their bills.
In some states, moratoriums are scheduled to last even longer. California, for example, extended its moratorium to June 31, and New York has pushed its moratorium deadline back until May 1.
Around 20% of renter-occupied households, or nearly 10 million households, were behind on rent at the end of January, according to data from the U.S. Census Bureau. The total amount of back rent is unknown, but Moody’s Analytics estimates that delinquent renters owe, on average, about $5,586 each. In