The Centers for Disease Control and Prevention is using its authority in the name of public health to place an eviction moratorium to prevent landlords from evicting certain renters nationwide for the rest of the year. The moratorium calls up a 1944 public health law that was created to help prevent the spread of an illness, the White House announced Tuesday.
While the rule may temporarily assist struggling renters, it fails to help landlords who must still make their payments and obligations on properties, real estate professionals say. The National Association of REALTORS®, along with other housing leaders, have voiced concern about the moratorium.
“While NAR appreciates and is supportive of administrative efforts to ensure struggling Americans can remain in their homes, this order as written will bring chaos to our nation’s critical rental housing sector and put countless property owners out of business,” Vince Malta, NAR’s president, said in a statement. “Any eviction moratorium must also come with rental assistance for property owners, the vast majority of which are mom-and-pop investors and are still required to meet their financial obligations even as they cease to receive income on their properties.”
Read full article from NAR HERE
Related: Federal Eviction Moratorium Extended through end of 2020 Motley Fool HERE