Landlords are beginning to fear the rent money they’re owed will only increase as the eviction moratorium stretches on to Oct. 3, thanks to the CDC.
One landlord in Penn. who just started renting and flipping properties early last year has decided to sell his properties.
A survey shows at least 50% of landlords have tenants who missed rent during the pandemic.
Landlords with less the 4 units were hit harder with 58% saying they had tenants who missed rent.
Landlords are angry and feel that without the moratorium, tenants could have paid rent. They also have yet to receive the federal rental assistance. $47 billion was set aside for landlords and only $3 billion has been disbursed.
Many landlords who make a living off of owning multiple rental properties or apartment complexes are finding themselves forced to lay off their maintenance workers which is causing the buildings to fall into disrepair.
A lot of landlords are finding themselves selling their property to rich investors who can wait out the current financial crisis.
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