Renters Face Eviction as Relief Funds Are Held Up
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Here's your money briefing for Wednesday, June 9th. I'm J.R. Whelan for The Wall Street Journal. The clock is ticking for millions of renters who are still unable to make their monthly payments. The federal eviction moratorium is set to expire at the end of the month, but billions of dollars in government relief funds for renters are still working their way to bank accounts.
Tenants looking at that deadline who now have many months of unpaid rent, you know, the delay in funding getting to them has serious consequences for, you know, what happens after that June 30th deadline.
Coming up, our housing reporter Will Parker will tell us what's slowing the flow of money to renters and what's being done about it. That's after the break.
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Last year, the federal government put in place a couple of big programs to help renters who were hit financially during the pandemic stay in their homes. One was a moratorium on evictions. Another offered rental assistance payments to tenants and landlords. Well, the eviction moratorium is set to expire three weeks from today, and the relief funds still haven't reached many people who are eligible for them. Housing reporter Will Parker has been tracking this for us, and he's here with an update. Will, thanks for taking the time to chat.
Thanks for having me.
So, Will, this is a complicated issue with a lot of players. So I want to ask you about what's being done on a couple of fronts. This federal funding for renters, it's actually dispersed by state and local governments. And back in April, they were overwhelmed with having to allocate so much money at once. Any progress there?
There is progress there. The states and cities have started to get some of the money out for the most part. It took them a long time to get going, but now they're starting to put more out there. It's just there are still a lot of barriers that are making things slower than I think most people had hoped.
Yeah, let's talk about some of those barriers. It seems like there are some kinks in the pipeline starting with the applications that begin the whole process. Can you explain that?
Yeah, a big part of this is, you know, what these agencies that are administering the aid require tenants and landlords to show them requirements. so that they can approve that you have an emergency situation where a tenant is at risk of eviction and they have a financial difficulty that makes them eligible for this money. But the more documents you require, the more processing that takes and the more likely that certain tenants or landlords may not be able to provide it. And that seems to be one of the biggest problems that tenants simply are not able to complete their applications because of some of these document requirements.
Have there been any efforts to simplify that process?
So this has been a major point of emphasis for the U.S. Treasury Department, which is overseeing the administration of the aid. Now, the local agencies have a lot of leeway in deciding how exactly people qualify and how people apply for it.
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