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Updated over 3 years ago on . Most recent reply

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205
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Sean McKee
  • Rental Property Investor
  • Chicago, IL
149
Votes |
205
Posts

CDC Moratorium Extended Yet Again . Is This The New Normal?

Sean McKee
  • Rental Property Investor
  • Chicago, IL
Posted

Hello BP!

  The CDC stated that July 31st was the last extension of the moratorium and many states had already moved in that direction. I personally thought that this was a once an a lifetime event and the end was finally near. 

Then the announcement of yet another extension of the CDC eviction ban came last night. It's more "targeted" this time, and aims to protect renters in areas hit hardest by the delta variant. I've now started to doubt myself that this is truly the end.  We might not ever see another outright ban on evictions again, but what other restrictions of property rights might be enacted in the future during times of economic stress? This in my opinion is no longer about COVID. While COVID is certainly a serious health issue, many people have adapted and moved on. This is a deeper rooted issue regarding housing affordability and history of resentment towards landlords/housing providers that started long before COVID.  This isn't going away in the next few years. 

 Over the past year and half I have learned that I need other tools to encourage good behavior besides the threat of eviction.  I now subscribe to a credit reporting site that will allow me to report late payments.  As long as you screened right, most tenants complied with the terms of their lease despite the national and local moratoriums.  For those that choose not to, I now have one more tool that I can use to point them in the right direction.

Due to all the events that have happened are you positioning yourself differently going forward? Are you increasing your criteria? Looing at different markets or investment strategies?

Most Popular Reply

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2,278
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2,508
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Eric James
  • Investor
  • Malakoff, TX
2,508
Votes |
2,278
Posts
Eric James
  • Investor
  • Malakoff, TX
Replied

This is no longer an investment issue. It's a constitutional crisis when the executive branch thumbs it's nose at the judicial branch. What remains to be seen us if the supreme court will take this lying down. 

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