WASHINGTON, D.C. — The Centers for Disease Control and Prevention (CDC) has extended the federal eviction moratorium until Oct. 3, which many real estate industry associations disagree with, including the Institute of Real Estate Management (IREM).
IREM released a statement saying it is concerned that the eviction moratorium extension will leave housing providers in limbo as renters accumulate debt from the rent they owe. The press release also states that the moratorium does not help with the current problems in the housing sector and could potentially worsen its health financially.
Rental housing providers and apartment owners have helped their renters avoid eviction with payment plans, extended or flexible lease periods and waiving fees. On Aug. 3, the National Multifamily Housing Council (NMHC) also issued a statement in strong opposition of the eviction moratorium extension. Additionally, the National Apartment Association filed a lawsuit due to the extension.
The eviction moratorium is now on its fourth extension and was supposed to end July 31. With the updated federal eviction moratorium, the CDC says it will issue a ban in counties with high levels of COVID-19 cases and will cover about 90 percent of renters, according to CNBC.