|
|
WITH FEDERAL ASSISTANCE SET TO EXPIRE, CONGRESS MUST ACT NOW TO ENSURE ECONOMIC STABILITY
With millions of Americans unemployed as a result of COVID-19, the need for continued and sustained federal assistance to renters and rental property owners is great. The relief measures enacted as part of the CARES Act have made it possible for many renters to fulfill their rental obligations.
However, many of these assistance measures are set to expire at the end of the month. According to a recent Politico article, if Congress allows the unemployment benefits to expire, laid off workers could see “their weekly income [reduced] by more than two-thirds in many states.”
The rental housing industry is gravely concerned about renters’ ability to continue to pay rent. And if rent stops flowing, the falling dominoes that could follow would be devastating for not only the housing industry but also the U.S. economy writ large. This week, NMHC joined a coalition of real estate groups in sending a letter to Congress. We’re calling on lawmakers to ensure that relief for renters and housing providers is included in future legislation, and that an expansion and extension of the eviction moratorium is not. We need your help to amplify the message.
|
|
NMHC RENT PAYMENT TRACKER SHOWS DECLINE IN RENTERS PAYING RENT
The NMHC Rent Payment Tracker found 87.6 percent of apartment households made a full or partial rent payment by July 13—a 2.5-percentage point year-over-year decrease and a 1.4-percentage point drop from last month. Experts point to the July 4 holiday as a contributing factor to the lagging results.
|
|
NEW RENTAL ASSISTANCE FACT SHEET NOW AVAILABLE
With a third of Americans unsure if they will be able to pay next month’s rent and expanded unemployment insurance set to run out at the end of the month, Congress must act now to ensure our nation’s continued housing stability. Along with launching our renewed call to action campaign this week, we’ve also created a new resource to help you make our case with lawmakers.
|
|
|
|
|
|
|
|
FEDERAL BENEFITS HAVE BUOYED PAYMENTS. WHAT HAPPENS IF THEY EXPIRE?
In her latest piece, “My Birthday Is July 30, and I’ve Never Dreaded It So Much,” NMHC VP of Research Caitlin Walter looks at the uncertainty around whether expanded unemployment benefits will expire at the end of the month and raises serious concerns about the ability of millions of renters to make rent going forward.
|
|
|
|
NEWS
The National Low Income Housing Coalition recently released their annual Out of Reach report, which indicates that full-time minimum wage workers cannot afford a two-bedroom rental anywhere in the U.S.
As expanded unemployment benefits are set to expire at the end of the month, the NMHC Rent Payment Tracker reveals that 87.6 percent of tenants paid some rent through July 13. This comes in only slightly lower than the 90.1 percent during the same period a year ago.
Though many understand the rationale and need for renter support, critics say the federal eviction moratorium was too sweeping in nature and has placed an undue burden on small multifamily owners. For more on how payments at mom-and-pop are performing, check out this article or watch this NMHC webinar that provided some comparative data and analysis.
In the age of COVID-19, once-popular community gym spaces are going largely unused. As multifamily operators assess what the “new normal” is, what will the future bring for shared gyms?
Whether due to moving out of college dorms because of campus-wide shutdowns, moving out of communities renters perceived as unsafe, or moving out of housing that was no longer affordable—a Pew Research Center survey found that 22 percent of adults have changed their residence due to the pandemic.
|
|
U.S. DEPARTMENT OF ENERGY LAUNCHES BETTER BUILDINGS SUMMER SERIES
Better Buildings is a U.S. Department of Energy initiative intended to drive leadership in energy innovation. As part of this initiative, the DOE has launched a series of webinars. New this week, the Combining Energy + Health Upgrades in Multifamily Housing webinar will explore case studies of innovative partnerships to advance energy + health initiatives.
|
|
NMHC RESOURCES
COVID-19 HUB
|
|
NMHC’s headquarters for all COVID-19 policy updates, articles, industry resources and research. Some of our new resources include an all-new Rental Assistance fact sheet.
LISTSERVE
|
|
NMHC’s Emergency Preparedness Listserve is the place where multifamily operators can crowdsource answers to operational questions. Hot topics this week included discussions surrounding the return of late fees and managing employees struggling with the loss of childcare and the shift to virtual learning.
WEBINARS
|
|
New webinars were recently added to the library, including A Conversation About Rent Payment Data And Trends Across Different Segments where NMHC’s Sarah Yaussi and Caitlin Walter are joined by Comunidad Realty Partners’ Antonio Marquez and Avail’s Ryan Coon.
|
|
|
You are receiving this email because you subscribed to "Email Communications". Please add ‘news@nmhc.org’ to your email address book or Safe Sender List.