A federal moratorium on evictions ends this month for rental properties with federally backed mortgages.
In May a host of states returned to pre-Covid rental laws including Arizona, Colorado, Hawaii, Tennessee, Nebraska, Texas, and Wisconsin. Courts were expecting a tsunami of evictions when restrictions were lifted.
A recent survey by Grace Hill property management company, found that 69 percent of rentals paid their April rent in full, but just 52 percent expected to be able to pay their May rent in full.
If renters do not pay as expected, observers expect eviction and homelessness on the renters' side and, on the owners' side, mortgage default, foreclosure, and income loss.
More than half of the rental units in the country are owned by mom-and-pop landlords who depend on the money for income.
