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    Tenants and Landlords are you informed?!

    For Treasure Property group, it is important that we provide valuable content to our customers.

    In today’s post, we want to make sure tenants and landlords are informed!

    Many tenants and landlords are left vulnerable with the eviction moratorium (or ban) in Florida expiring. The eviction moratorium is an order that prevents landlords from evicting tenants affected by COVID-19. That order also includes foreclosure cases!

    But the most important part of this order is often overlooked. Tenants often assume the order liberates them from paying past-due rent. In actuality, the rent is accumulated. 

    Let’s take a better look at this.

    To further understand, say you are paying $900 in rent during the pandemic. The state government enacted the ban in mid-April. The ban in Florida expired on October 1st, 2020. In total, that is 6-months of unpaid rent so that you would owe the landlord $5,400.

    Unfortunately for many tenants, they will not be able to pay that amount. So, they would have to leave with an eviction and unpaid rent on their credit report. It will be difficult for them to find a new place to live with an eviction on their records.

    Photo: Canva

     

    Now let’s take a look at it from a landlord’s perspective. 

    We have a scenario of a landlord renting his home to a tenant in August 2019. A couple of months in, the tenant claims he has not been working, and the pandemic made it worse. Fast forward to a year and two months later, and the landlord finally began the eviction process (the ban was lifted on October 1st, 2020). During this time, the tenant vandalizes the property and steals the appliances. The landlord lost a year’s worth of income while the tenant lived rent-free under the eviction moratorium and gained $3,000 off the stolen appliances. The landlord loses a year’s worth of income and has to pay off property damage and property taxes. 

    That is why Treasure Property Group wants tenants and landlords to be informed! No need to worry, there is help!

    So what can we do?

    Whether you are a tenant or landlord and you find yourself in this situation, the government is providing help!

     According to Sun Sentinal business reporter Ron Hurtibise, “tenants advocates and property owners associations have been seeking $100 billion in federal money that could be sent directly to landlords on tenant’s behalf” (Hurtibise, 2020). If the federal government approves of this, both the tenants and landlords will be protected. 

    For more information on COVID-19 rental assistance, visit the article below:

    https://www.investopedia.com/renters-how-to-get-covid-19-rent-relief-4800858

    You can also dial 211 to request rental relief!

    If you have any questions about rental assistance during the pandemic, we have agents who can help!

     Come in and talk with us, and we can help you better understand the eviction process! You are not alone, so know that we are families working with families, and Treasure Property Group wants the best for you!

    Your home is your TREASURE, so TRUST us with it!

     

    Want to talk to us?

    https://www.treasurepropertygroup.com/contactus/

     

    Reference

    Hurtibise, Ron. 2020. “Florida’s ban on evictions has expired. What now for tenants who are months behind on rent?” South Florida Sun-Sentinel.

     

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