Eviction Moratorium Extension

Here are some more details on the recent extension of the eviction moratorium. Head over to our YouTube channel or check out this article from the Wall Street Journal to learn more.

It’s the last day of the year, and we just want to talk a little bit about commercial real estate in our regular segment. The biggest news in commercial real estate this week is that President Trump signed the COVID Stimulus Relief Bill, which included $25 billion of rental assistance for tenants who are behind on the rent, which they can apply for. Landlords can also apply on their behalf.

The other big matter is that in the cases where the federal government is involved in the financing, the federal moratorium against evictions has been extended until the end of January. There’s a lot of talk that the Biden administration would extend that some more. Of course, these are regional problems. All real estate is local, but just as i’m recording this, New York has passed its own eviction moratorium.

All this really puts the landlords in a hard place, as well as the tenants. We all know that the tenants would be happier if they could go to work and they could pay their rent. And the landlords have mortgages to pay as well. There’s no real relief for the landlords in these updates, and in a lot of cases the moratorium of evictions is followed by the moratorium on foreclosures.

If there’s any way we can help or advise you on matters like this, don’t hesitate to reach out to Harvard Grace. And Happy New Year!

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