CDC Director Dr. Rochelle Walensky has signed an extension to the eviction moratorium which was set to expire on March 31st. (CDC)
- The order will further extend and modify the prior Eviction Moratoria until June 30th, 2021.
- Just a reminder, The ban applies to individuals who earn less than $99,000 a year and couples who make under $198,000. Renters must also attest that they’re unable to afford their rent and that being evicted could result in them doubling up with others or becoming homeless. Renters also must use best efforts to make timely partial payments that are as close to the full payment as the invidual’s circumstances will permit.
An analysis from Mark Zandi and Jim Parrott showed the typical delinquent renter now owes $5,600, being nearly four months behind on their monthly payment. This is having a disproportionate impact on smaller landlords who are less likely to be able to absorb those losses and access COVID relief funds. CNBC reports that these smaller landlords are starting to sell properties to recoup losses. (CNBC)
- “More than half the rental stock in the nation is owned by smaller landlords, and more than half of those landlords have tenants who have missed payments during the pandemic, according to a new survey from the NRHC. Of those, more than one-third said they have had to dip into personal savings or take out a loan to make payments for mortgages and maintenance on their properties.“
It should be noted that the eviction moratorium doesn’t means evictions can’t happen under any circumstance. ABC 11 in Raleigh reported over that weekend that evictions were still happening in the tarheel state despite the moratorium. (ABC11)
- “Thorpe tried to prove her case in court, but despite several appeals she lost. The judge ruled her case a holdover, which means her lease expired and the landlord can opt to not renew. A Do Not Enter Notice was put on the home Thorpe rented, and she was evicted.”
- “Thorpe is not alone as during the COVID pandemic, close to 71,000 evictions were filed in North Carolina courts between March 2020 and February 2021.”