long-term threats to the industry: o The CDC’s eviction order leaves renters facing insur- mountable debt and jeopardizes the ability of rental hous- ing providers to provide safe, sustainable and affordable housing. • The eviction moratorium should sunset so that we can have discussions with residents – about flexible pay- ment plans, how they can pay – not so we can evict people.
o The distribution of critical rental assistance has been slow; renters and rental housing providers desperately need these funds to catch up on their bills.
• Despite facing unprecedented challenges, rental housing providers of all sizes are going above and beyond to help their residents where they can: o Of owners that received less than full rent, 52% created flexible payment programs for residents and 45% for- gave some amount of missed rent (National Rental Home Council).
• The industry has been left to foot the bill for rental arrears for more than a year now – and as a small profit margin industry, many rental housing providers won’t be able to hold on much longer. o Only 10 cents of every rental dollar is profit. o Small mom-and-pop landlords are struggling and aren’t the exception—they own more than 50% of the nation’s rental housing stock (22.1 million units).
• About 30% of mom-and-pop landlords are considered low- to moderate-income, meaning they make less than $50,000 per year (Brookings Institute Report).
• The longer the eviction moratorium stays in place, and the longer it takes for rental assistance to reach those who des- perately need it, the worse the housing affordability crisis will be on the other side of the pandemic. o Warning signs provide a hint for what’s to come: • 30% of single-family rental home property owners say they will be forced to tighten standards when evaluat- ing future rental applications, 11% forced to sell at least one of their properties, and 12% forced to sell all their properties (National Rental Home Council).
• When the moratorium ends, there won’t be a tsunami of evic- tions that many suggest. o Filings don’t equal eviction o Court backlog will prevent tsunami of evictions
o Rental assistance getting distributed will prevent many of these cases from the courts
• There is not an incentive to evict residents who are commu- nicating and working with their housing provider – evictions take time and money, and ultimately leave providers with an empty unit to turnover, market and sell (which costs even more money).
• An eviction also doesn’t mean a housing provider will auto- matically receive the money that they are owed.
• The collective emphasis needs to shift to rental assistance and supporting those who need help most – low- to moder- ate-income residents.
• The bottom line is that eviction is always a measure of last resort – the industry is in the business of housing people, and trying to find another tenant means months of no rent and more hassle for rental housing providers. o We all continue to share – and will continue to share – a common goal of keeping people in their homes.
o Evictions are an unfortunate part of rental housing opera- tions. Though a measure of last resort, evictions allow all parties due process and a day in court. • The CDC Order does not allow rental housing provid- ers access to the courts.
• COVID-19 has highlighted the housing affordability crisis and it is time to move on from harmful moratoria and instead embrace policies that address the root cause of affordability issues. NAA has and will continue to combat the housing af- fordability crisis by advocating for sustainable solutions. o Our advocacy has helped bring about the introduction of both the Choice in Affordable Housing Act, which will significantly improve the Section 8 Housing Voucher Program, and the Yes In My Backward (YIMBY) Act, which will remove critical barriers to housing develop- ment.
o NAA supports the Build More Housing Near Transit Act, which would spur the development of more affordable and sustainable housing with easy access to transporta- tion infrastructure.
o NAA also supports the Promoting Affordable Housing Near Transit Act, which will transform unused land left from federal transit projects into affordable housing, helping to strengthen communities and broaden access to jobs and resources.
ASSISTANCE OPTIONS
EMERGENCY RENT CLICK HERE
8 APARTMENT ADVANTAGE 15
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56
