Rent Is Due, What To Do

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Rent is due today for millions of people affected by the coronavirus pandemic who unexpectedly find themselves out of both work and money after being laid off in March. Just weeks ago food and shelter may have not have been what most people woke up worrying about. Today is different and tomorrow is uncertain, which is certainly an understatement of our new reality.

Governments can’t make rent not due. However, to alleviate the stress of possible eviction during this unique time in our history a majority of states have forbidden evictions for 30 to 90 days if rent is not paid. See a list of states with new eviction rules on USA Today. Other states may join as well in the days to come. Rules are different state by state.

The federal government has also included restrictions on evictions in recent legislation for properties financed with federally funded mortgages. So even if there is no new state legislation where you live,  you still may be covered by the federal law. (For homeowners worried about foreclosure, see our articles here and here and contact your lender directly.)

Landlords are under tremendous pressure too from all of this; and we suggest everyone stay in touch with landlords and let them know where you stand on rent and see if something can be worked out. To get back on their feet somewhat, those unemployed should start seeing weekly supplemental income of $600 on top of ordinary unemployment insurance payments. Most should also be getting $1200 or more in stimulus checks in the weeks to come.

 

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