On Sunday, the National Multifamily Housing Council endorsed a number of unprecedented measures in response to the COVID-19 crisis. Among them is a 90-day moratorium on most evictions, meaning apartment owners and managers effectively stripped themselves the ability to remove residents delinquent on rent. The move comes after a wave of local and state governments across the country put similar bans in place.
The timing matches an expected increase in delinquency as job losses mount (particularly in the hotel and restaurant sectors) and unemployment claims surge.
Read more...COVID-19: What’s the Long-Term Impact of Moratoriums on Apartment Evictions? via RealPage