Country Anticipates Spike in Renter Evictions this Summer
Courts backlogged with cases as renters seek guidance, best practices to improve their credit history with Roost.
Apartment industry experts are predicting a flood of renter evictions to occur throughout the summer as challenging financial situations are affecting millions of Americans. Layoff and furloughs are driving factors, and so is the lifting of eviction moratoriums in many major markets. Additionally, the federal government’s CARES Act’s financial backstop provided through unemployment benefits is set to expire July 31, a day before August’s rent is due.
Of the 110 million Americans living in rental households, 20 percent are at risk of eviction by Sept. 30, according to an analysis by the Covid-19 Eviction Defense Project, a Colorado-based community group. Almost 13% percent of renters have “no confidence” in their ability to pay next month’s rent and 20% of renters have “slight confidence” in making rent, according to a US Census Bureau Survey, conducted from June 25 to 30.
“Evictions are a very difficult situation for renters and they will have long-term effects on their financial well-being,” says Chanin Ballance, Co-Founder of renter education platform, Roost. “With the U.S. now bracing for an economic downturn, renters are among the most vulnerable. There was already an affordable housing crisis in this country before the pandemic hit. We want to give residents the information and guidance they need to plan ahead and be their own best advocates.”
Meanwhile, in Milwaukee, where a state eviction moratorium was lifted in late May, the number of eviction filings through June 27 was up 13 percent compared with previous years, according to data collected by the Eviction Lab research group. Eviction courts remain open in Houston, the country’s fourth-largest city, where more than 2,000 eviction complaints were filed in June, according to January Advisors, a data science consulting firm.
A proposal from Democrats to establish a $100 billion rental assistance program passed in the House but hasn’t garnered as much support in the Republican-controlled Senate, reports The Washington Post. Legislation this week to expand the federal eviction moratorium to include more renters and extend the protection until next March 2021 was introduced by three Democratic senators, but landlords and property owners are likely to object and that legislation also hasn’t gained wide Republican support.
Roost is a new online community that helps renters navigate their responsibilities as a tenant, better understand their lease terms, build strong rental and credit histories, and manage living expenses.
Young adults were most affected among the 22 percent who say they either changed their residence due to the pandemic or know someone who did, Pew reports. First-time renters are walking into potentially difficult situations this year given uncertainties based on COVID-19 and the unsteady economy. Many existing residents also are facing new dilemmas when rent due dates arrive or it’s time for them to renew their leases.
Proper resources for understanding the lease, security deposit refunds, negotiating lower bills, getting the best renters insurance, and finding ideal roommates will boost their confidence and improve their rental experience. Roost is free to join and adds a reward of $150 for much-needed items and the chance to boost their rental history can turn these challenging life lessons into pleasant ones. It launched its web-based service and is giving apartment operators a free option to their residents.
Renters can now visit https://joinroost.com/ to sign up for free and gain access to expert advice, handy planning tools, and data-driven recommendations to help make renting simple and rewarding.
Roost is a mission-driven tech company working to make the renter experience simpler and more transparent. Members have free access to expert content, comparison shopping, tools, and data-driven recommendations to help Renters make informed decisions, protect their stuff, and save money. For more information, visit https://joinroost.com.