When the pandemic hit in 2020, the world shut down and business owners faced unprecedented economic challenges. The COVID eviction moratorium hit some landlords especially hard, forcing them to house non-paying tenants while often receiving no financial compensation. Many landlords have never recovered those losses. However, there is a path to recovery from a collectable and responsible party, the federal government. FIGHTING TO RECOVER LOST RENT FROM THE COVID EVICTION MORATORIUM LANDLORDS LEFT BEHIND: FEDS IMPOSED A NATIONWIDE FREEZE ON EVICTIONS FOR OVER A YEAR In September of 2020, the Centers for Disease Control (CDC) enacted an eviction moratorium barring eviction of nonpaying tenants who claimed economic hardship from COVID. The moratorium essentially allowed tenants to stop paying rent if they claimed certain economic impacts. Many tenants took full advantage of the opportunity. The federal government extended the eviction moratorium several times until it finally ended in October of 2021. SOME LANDLORDS COULD NOT ABSORB THE LOSSES The eviction moratorium devastated some landlords stuck with tenants who did not or could not pay their rent. The federal government’s protections offered little to no support for property owners who relied on rental income to survive. Other landlords were able to weather the losses, but they impacted the bottom line.
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