Unpaid rent is piling up. Landlords can’t hold on forever
Millions of struggling renters caught a much-needed break when the federal moratorium on evictions was extended through the end of March. But for many landlords across the US, the news came as a nightmare.
“It’s important to recognize that, after 10 months of severe economic distress, job loss, and decline in rent collections, everyone is hurting,” said Bob Pinnegar, president and CEO of the National Apartment Association, an industry group representing property owners.
By extending the moratoriums further, he said, it leaves landlords and property managers “saddled with the financial burden of providing housing to America’s 40 million renters without sufficient resources to do so, and they leave residents to accrue even more debt.”
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