Thoughts on the End of the Colorado Eviction Moratorium & What Could Follow
Colorado Eviction Moratorium Coming to an End:
There is no doubt that COVID-19 has created unimaginable problems and this added to the already present stress of everyday life. With close to a year on the books for the eviction moratorium, it is coming down to the wire for both renters and landlords. Both groups have seen struggles, renters and landlords losing jobs, but also living with the threat of landlords and renters losing their homes. In just Denver County alone, there are more than 197,000 renters behind in paying their rent. This leaves a huge money gap for landlords. Landlords are now fighting back and have since sued the U.S. government for the eviction ban. There have been several agencies, both private and governmental, that have offered to provide some relief with rental aide, however, with so many people seeking this outlet, there are people still waiting on their portion. Landlords are still waiting on their end as well. Landlords across the country are owed tens of billions of dollars, despite the billons of dollars in federal aide. The positive aspect; there is an end in sight. The end of the eviction moratorium on August 1, renters have until the end of August to pay past due rent or face eviction. This should hopefully start the process of finding resolve for all of those who dealt with so much adversity in this. The latest update made on August 4, 2021, stated a “narrower” moratorium is in place until October 3, 2021 for the areas where COVID and variants are still very high (Colorado Newsline, 2021)
Eviction Notice:
“The new federal eviction moratorium, though narrower than the last one, provides more protection than a state executive order issued by Gov. Jared Polis last week. That order gives tenants who have pending emergency rental assistance applications a 30-day period to get caught up on rent before a landlord can file an eviction. Previously, tenants had 10 days to get caught up,” (KOAA News5, 2021). We could be seeing certain areas of Colorado holding onto the moratorium as these specific areas continue to struggle or worsen with COVID and/ or COVID variants. This will put more pressure and create an even longer waiting period on the landlords and property managers of the extended moratorium areas.
Eviction Moratorium:
The eviction moratorium protected renters from being evicted, however, this also made things difficult for our clients as they lost a source of income. $45 billion in just federal aide, not including other forms of aide, was set aside for those in need, but we are seeing hundreds of thousands that still owe unpaid rent. The end of August 2021 is also the end of the moratorium and this opens up the opportunity for landlords to reclaim their units and the money owed to them. This is where Revol can help! We specialize in landlord-tenant collections and can help retrieve your money,
What Could Happen Next:
With a high volume of evictions about to flood in, there may also be a high volume of lawsuits after the moratorium ends. Another possible issue could be the CDC trying to put another moratorium in place in areas with high COVID and variant strains. The CDC doesn’t want to push people out of their home when the pandemic is still going strong.
You can expect to get push-back from your tenants who are being evicted and we can help you along in this process. There are a lot of emotions involved and it is not an easy situation, however, Revol can be your middle-man to help resolve the situation before it goes to court. If court is necessary, Revol can help with that as well. Another issue could be renters filing for bankruptcy, as rent from the past 9-12 months is due now and they might have other debts stacking from the past year or so.
We might also see some changes as these tenants face leaving Colorado due to the pricing rising in the rental and housing markets. Colorado has low vacancy for rental properties as well. Colorado is a competative market and with prices rising there is going to be some issues and difficulty for the people unable to pay their rent that have been evicted to find new housing. Only time will tell what direction Colorado will go with all the adversity.
Statistics:
– $1,605 average monthly rent in Denver County (Colorado Fair Market
Rent, 2021).
– 197,000+ or 15% of Denver County renters are brhind in paying their
rent (Sentinel, 2021).
– $247 million in Colorado Emergency Rental Assistance handed out
(Denver Post, 2021).
– 35% of Colorado’s adult residents are behind on their rent or mortgage
and are facing eviction (U.S. Census Bureau’s Hosehold Pulse Survery,
2021).
– 7,500+ evicitons filed as of April 26, 2021 (Colorado Newsline, 2021).
What Revol Can Do to Help:
Revol is a Colorado collection agency that always aims for the best results. Revol is dedicated to helping landlords and property managers recover money from unpaid rent and damages to your rental properties. We are an all-inclusive agency offering no upfront costs, affordable rates, pre-collection letters, dispute verification, skip tracing, legal, post-judgments, and more.
Contact Us:
Please call or email us; we are ready to help you collect more.
– Phone: 303.713.9370
– Email: contact@revolcollect.com
*DISCLOSURE* This blog is not offered as legal advice and should not be taken as legal advice.
