Today’s Daily cover’s the recent moratorium that was placed federally by the CDC (Centers for Disease Control.) A federal judge overturned the previous moratorium ruling that the CDC did not have the legal authority to impose this nationwide moratorium. Groups that represent landlords were in agreement and according to Moody’s Analytics Analysis, there is an estimated 10 million renters owing approximately $57 billion in back-rent.
As a realtor and being a part of a lot of different organizations groups and masterminds, there are some landlords that deeply felt the financial impact of the eviction ban and some that did not. Surprisingly, here in Gunnison County or at least in the concentrated areas of Crested Butte and Gunnison, I have not heard of many landlords that were impacted by this ban. Quite a few renters seemed to have found a way to continue to pay their rent.
As a landlord myself, I was lucky enough to not feel this impact at all. However, we all know that not everyone was so lucky. There were both landlords, renters, and mortgage holders that felt the financial impact. Like many decisions that are made quickly due to extenuating circumstances, there were unintended consequences. In this case, it appears the majority of the consequences fell on the landlords.
Now , it should be noted that this was a federal ruling and that there are still state and county laws that should be abided by. To read the full article on Housing Wire, click HERE.
Also, in somewhat related news, according to the Mortgage Banker’s Association, more renters and homeowners are making their payments. To read this article click HERE.
For those of you that own long-term rentals, I’m curious how your state or county was affected.
Other related documents referenced in the article below:
Moody’s Analytics: Click HERE for the document
Click HERE for a link to the Gunnison County Renters Rights Document.