Will Parker

speaker

780 appearances 18 recordings 1 series first heard May 2019 last heard Nov 2024

Will Parker’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Rents Are Up More Than 10% in the Past Year · 3 Aug 2021 podcast

for the eviction moratorium's expiration, and so it did expire this weekend. matched

And the House of Representatives is on vacation right now, and it's not clear that at the national level there's any kind of extension forthcoming. matched

That really depends. matched

What the moratorium ending does do for many landlords is give them the ability to replace tenants that have not been paying with people who can pay. matched

That will allow their collections to go up matched

But as far as raising rent, it's kind of a gradual process. matched

So what you can get for an apartment that's open might be really high, but in order to get that higher rent for all of your apartments, that has to happen with leases expiring. matched

Many landlords have tenants that are paying discounted rent because during the pandemic, tenants had a lot of leverage to ask for lower rates. matched

Buildings were getting emptier, right? matched

Landlords are having trouble keeping tenants matched

more than 90% of their apartments full in some cases. matched

So renters were able to negotiate lower rates. matched

So landlords are not going to be able to realize these higher rents until some of those people who have these pandemic discounts reach the end of their current lease. matched

With the eviction moratorium now expired, a lot of tenants who relied on that to stay in their homes despite being behind on rent, they don't have that sort of leverage with their landlord when it comes to negotiating things like perhaps a payment plan or some sort of agreement that would give them more time to pay rent. matched

Many landlords will still do that and continue to work with tenants, but there's no law that's really matched

creating a situation where they have to do things like that. matched

So now, you know, what we may see is an increase in evictions on tenants who have not been able to make their full rent payments. matched

So there are really only a handful of states that have their own eviction moratorium now that the federal one has expired. matched

It's California, New York, Illinois has some protections. matched

And you've seen a few local governments, cities do their own as well over the weekend. matched

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