WASHINGTON, D.C. – (Realty News Report) – The National Multifamily Housing Council (NMHC), a major apartment industry group, has recommended a halt to evictions and rent increases for the next 90 days due to the COVID-19 outbreak.
NHMC recommends apartment firms consider adopting the following principles to help America’s renters retain their housing during this crisis.
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Halt evictions for 90 days for those who can show they have been financially impacted by the COVID-19 pandemic. (This would not apply to evictions for other lease violations such as property damage, criminal activity or endangering the safety of other residents of the community.)
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Avoid rent increases for 90 days to help residents weather the crisis.
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Create payment plans for residents who are unable to pay their rent because of the outbreak and waive late fees for those residents.
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Identify governmental and community resources to help residents secure food, financial assistance and healthcare and share that information with residents.
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Communicate to residents that it is a priority for the industry to partner with them to help them retain their housing.
“We also recognize that most rental properties are owned by individuals and small businesses that have financial obligations, including mortgages, utilities, payroll, insurance and taxes. If residents cannot pay their full rent obligations because of the COVID-19 outbreak then owners are at risk of not meeting their own financial obligations. This puts the individual property and the larger community in which it is located at risk,” NMHC said.
“Congress must extend mortgage forbearance to rental property owners and extend similar protections to other financial obligations such as insurance premiums, utility service payments and tax liabilities,” the organization said.
March 23, 2020 Realty News Report Copyright 2020
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