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National Victory on Eviction Moratorium...What Does This Mean for Landlords & Renters??
Dated: August 27 2021
U.S Supreme Court Has Ruled CDC's Latest Extension As Unlawful
Eviction Moratorium Has Been Lifted! But What Exactly Does That Mean For Landlords & Renters Now?
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The U.S. Supreme Court ended the Centers for Disease Control and Prevention (CDC’s) eviction moratorium Thursday night, giving much-needed relief to America’s small housing providers facing financial hardship for more than a year.
In a 6-3 ruling, a majority of justices agreed that the stay on the lower court’s order finding the CDC’s eviction moratorium to be unlawful was no longer justified.
In their order, the justices wrote, “The moratorium has put the applicants, along with millions of landlords across the country, at risk of irreparable harm by depriving them of rent payments with no guarantee of eventual recovery. Despite the CDC’s determination that landlords should bear a significant financial cost of the pandemic, many landlords have modest means.”
In a statement, NAR said of the ruling:
“This decision is the correct one, from both a legal standpoint and a matter of fairness. It brings to an end an unlawful policy that places financial hardship solely on the shoulders of mom-and-pop housing providers, who provide nearly half of all rental housing in America, and it restores property rights in America.
“No housing provider wants to evict a tenant—it is always a last resort and reserved for the rarest cases. The best solution for all parties is rental assistance, and all energy should go toward its swift distribution. Nearly $50 billion of aid is now available to cover up to a year-and-a-half of combined back and future rent and utilities for struggling tenants—and every state has started a program to distribute the funds."
What Are The Next Steps Now?
Nearly $50 billion of aid is now available to cover up to a year-and-a-half of combined back and future rent and utilities for struggling tenants—and every state has started a program to distribute the funds, including Nevada.
As time progresses, we will more than likely see an increase in homes back on the market for rent. With the current move of people from out of state, the increase in rentals available will bring back a piece of mind & a variety of inventory to choose from!
Landlords may also even be ready to list their home for sale. In this current sellers market, it can definitely set the pace for buyers to have a higher variety of homes to view. We can't forget to mention that this may just what investors need to come back into the game!
Feel free to give us a call today, & see just how YOU can benefit from the eviction moratorium!
Article Source: https://www.nar.realtor/
Born and raised in Leeds, England, I moved to Las Vegas, Nevada 30 years ago to pursue the great American dream. Helping people achieve their own dreams in real estate has always been my passion. My p....
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U.S Supreme Court Has Ruled CDC's Latest Extension As Unlawful Eviction Moratorium Has Been Lifted! But What Exactly Does That Mean For Landlords & Renters Now?photo image provided by