Understanding the Eviction Moratorium: A Guide for Landlords
If you’re a landlord or property owner in the United States, you may have heard of the eviction moratorium—but you may not know exactly what it is and how it could affect you. Here, we’ll explain what you need to know about the eviction moratorium in order to better understand what it covers and how it could affect you.
What Is an Eviction Moratorium?
An eviction moratorium is a policy that bars the enforcement of evictions in certain circumstances—usually in response to a financial crisis. It ensures that tenants will not be evicted or have their rental agreements modified due to financial hardships. The purpose of the eviction moratorium is to prevent individuals facing financial distress from becoming homeless.
Who Does the Eviction Moratorium Affect?
The eviction moratorium primarily affects landlords, property owners, and tenants. It is designed to protect both landlords and tenants by protecting tenants from eviction while allowing landlords to avoid expensive legal battles. Depending upon the jurisdiction, the eviction moratorium may provide additional benefits to tenants, such as requiring landlords to provide notice before evicting a tenant.
What Does the Eviction Moratorium Cover?
The eviction moratorium can vary depending upon the jurisdiction, so it’s important to understand what it covers in your particular area. Generally, the eviction moratorium will cover non-payment of rent or other rental dues, as well as other lease violations. Depending upon the jurisdiction, it may also cover instances where the tenant has caused damage to the property or has engaged in other activities that may violate the lease agreement.
What Does the Eviction Moratorium Not Cover?
The eviction moratorium typically does not cover leases that have already ended, criminal activities, or cases of fraud. Additionally, it does not cover situations where the tenant has caused significant damage to the property. It also does not provide any relief from eviction for tenants who were already in the process of being evicted before the moratorium began.
How Long Does the Eviction Moratorium Last?
The length of the eviction moratorium can vary depending upon the jurisdiction, but it’s typically a temporary measure that is in place until the financial crisis is over. It should be noted that the eviction moratorium does not forgive rental payments that are due, it simply prevents legal action from being taken against tenants who are unable to pay their rent due to financial hardship.
What Are the Risks for Landlords?
The eviction moratorium can present some risks for landlords, particularly those who rely on rental income to make ends meet. For instance, if the eviction moratorium is in place for a long period of time, landlords may experience decreased rental income due to tenants being unable to pay rent. Additionally, landlords may become vulnerable to tenants who try to take advantage of the moratorium by refusing to pay rent and claiming that the moratorium applies.
What Are the Benefits for Landlords?
Despite the risks associated with the eviction moratorium, there are also some potential benefits for landlords. The eviction moratorium can help landlords avoid expensive legal proceedings, as well as provide tenants with the ability to remain in their homes and avoid homelessness. Additionally, it can provide landlords with an opportunity to work with tenants to develop payment plans or determine alternative solutions to their rent-related issues.
What Are the Requirements for Landlords?
There are certain requirements that landlords must adhere to in order to take advantage of the eviction moratorium. For instance, landlords must provide notice to tenants of the eviction moratorium and inform them of their rights. Additionally, landlords must provide tenants with an opportunity to pay their rent if they are able to do so.
What Should Landlords Do if a Tenant Refuses to Pay Rent?
If a tenant has refused to pay rent despite the eviction moratorium, it’s important for landlords to take the appropriate steps to protect their rights. Landlords should work with their local and state governments to determine their rights and take legal action if necessary.
Conclusion
Understanding the eviction moratorium is essential for landlords in order to ensure that they are compliant with the requirements and are not at risk of losing rental income or facing expensive legal proceedings. While the eviction moratorium can provide some financial relief for tenants, it’s important for landlords to recognize the potential risks it can present and take action to protect their rights if necessary. Understanding the Eviction Moratorium: A Guide for Landlords is key to protecting your rights as a landlord.
What does the eviction moratorium mean for landlords?
The eviction moratorium means that landlords are not able to evict tenants if they are unable to pay rent due to the coronavirus pandemic. Tenants must still pay any back rent they have accrued, and landlords are still able to initiate eviction proceedings, but they may not actually evict tenants until the moratorium is lifted. This can provide landlords with some financial relief and allow tenants to remain in their homes and avoid homelessness.
What are the penalties for landlords for violating the eviction moratorium?
The penalties for landlords who violate the eviction moratorium vary by state, but in most states, landlords can face criminal charges and/or civil penalties. In addition, if the landlord has received any underlying subsidies from the federal government, such as from the CARES Act, there could be other sanctions and repayment requirements.