While eviction moratoriums helped keep many tenants in their homes during the pandemic, the nation's renters have amassed a collective debt of over $52 billion, and many mom-and-pop landlords are struggling to hold on.
A year after governments across the country implemented eviction moratoriums, some landlords are struggling to pay their own bills as back rent piles up. "Many said they or their clients are dipping into savings to keep properties afloat and delaying maintenance or repairs because they can’t afford them." Writing in the Los Angeles Times, Andrew Khouri reports on the growing crisis.
Without financial assistance, many small landlords are falling behind on their own expenses, and some fear having to sell their properties. "One property owner in her 60s said she is considering taking a second job to avoid having to sell her two 20-unit buildings because she’s having difficulty keeping up with mortgage payments. An owner in his 80s said he’s already told his lender he can no longer meet payments and anticipates handing the 200 units he owns back to the bank."
While some "billionaire landlords" have seen their wealth increase over the course of the pandemic, smaller owners have fared much differently. A study by the Institute for Policy Studies shows that "L.A. property owners with five or fewer units were most likely, at 37%, to report an expectation of financial distress before three months. Owners with 30 or more units were least likely to expect financial distress before three months, but the percentage was still 20.3%." Dan Yukelson, executive director of the Apartment Association of Greater Los Angeles, said "missed rent is a hit to association members, who have also faced added costs over the last year including rising water bills and requests for repairs as homes became offices, classrooms and all-around sanctuaries during the pandemic."
Larry Gross, executive director of the tenant rights group Coalition for Economic Survival, argues that, while small landlords do deserve more relief, "current eviction restrictions should not be rolled back," and income verification requirements "would make more people homeless than the small number of individuals who might be taking advantage."
FULL STORY: Landlords are waiting for rent payments — and some can’t hold on much longer
Spiking Rents Putting More People at Risk of Eviction
Housing costs across the country are becoming more and more unaffordable for low- and moderate-income households, a trend that began even before the COVID-19 pandemic.
As Rental Assistance Ends, Houston Sees Eviction Filings Rise
More Houston households face evictions as landlords seek to recover back rent accrued during the last two years of the pandemic.
Rent Crisis Deferred
One-third of tenants didn't pay rent in April, according to a data released today by the National Multifamily Housing Council.
Planning for Congestion Relief
The third and final installment of Planetizen's examination of the role of the planning profession in both perpetuating and solving traffic congestion.
Minneapolis Housing Plan a Success—Not for the Reason You Think
Housing advocates praise the city’s move to eliminate single-family zoning by legalizing triplexes on single-family lots, but that isn’t why housing construction is growing.
‘Mega-Landlords’ Threaten Housing Stability for Renters
As institutional investors buy up a larger share of single-family homes, the families renting them are increasingly vulnerable to rent increases and eviction.
Short-Term Rentals Vex Dallas City Council
Residents complain that vacation rentals exacerbate the city’s housing shortage and bring traffic and noise to residential neighborhoods, calling on the city to impose—and enforce—stricter regulations.
Traffic Fatalities Set Records as Pandemic-Era Road Carnage Shows No Signs of Stopping
An estimated 42,915 people died in automobile crashes in 2021, according to recent federal data. The increasing fatalities continue a trend that began with the outset of the pandemic.
Driver Shortage Undercuts the Potential of L.A.’s Recent Bus System Redesign
The Los Angeles County Metropolitan Transportation Authority implemented a complete overhaul of its bus system in three waves over the course of 2021. A shortage of drivers for the system has made it impossible to implement that vision.
County of Sonoma
City of Malibu
EMC Planning Group Inc.
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
Harvard GSD Executive Education
City of Redwood City
City of Rohnert Park
City of Hot Springs
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Hand Drawing Master Plans
This course aims to provide an introduction into Urban Design Sketching focused on how to hand draw master plans using a mix of colored markers.
