Millions of renters missed payments because of the chaos caused by the coronavirus pandemic. They had often missed several months—racking up thousands of dollars of debt, on average, for a total of $57 billion across the U.S., according to an analysis of Census data. That strained the budgets of the apartment properties where these renters live—often small properties with just a few units apiece run by small investors who own just a handful of properties.
Congress threw these renters and their landlords a lifeline with the $1.9 trillion American Rescue Plan Act, signed by President Biden earlier this month—and that is in addition to help already included in the last coronavirus relief bills.
Read more...COVID-19 Relief Throws a Lifeline to Renters and Small Landlords via WMRE