A broad real estate coalition strongly opposes the Centers for Disease Control (CDC) decision to reimpose a federal eviction moratorium. This move takes place despite the fact that the Administration itself noted it lacks the legal authority for a more targeted eviction moratorium.
The best way to help struggling renters is for the Administration to work with Congress, states, and localities to help disburse rental assistance funds to residents and housing providers in need. Our organizations are committed to working with the Administration and Congress to ensure that the emergency rental assistance program is a success, to help our residents regain housing stability, and to preserve the viability of the rental housing sector.
The recent CDC order will leave rental housing providers in legal limbo while many renters continue to accrue more and more back rent and face a mounting debt cliff. Further, a continued moratorium fails to deliver the needed solutions to address the underlying financial distress faced by renters and puts the overall stability of the rental housing sector and broader real estate market in peril.
We agree with the White House that “there is simply no excuse, no place to hide for any state or locality that is failing to accelerate their Emergency Rental Assistance Fund.” That is where the Administration, Congress, and state and local leaders must focus.
Throughout the pandemic, rental housing providers have worked to both help our residents resolve their hardships and to advance policies to provide renters with essential resources to meet their housing needs. Housing providers are continuing to help our residents avoid eviction with rent repayment arrangements, deferments, offering extended or flexible lease periods, waiving fees, and connecting them with social services and financial assistance.
The group consists of real estate organizations that represent for-profit and non-profit housing owners, operators, developers, lenders, and property managers involved in rental housing, both affordable and conventional.
The coalition members include:
- CCIM Institute
- Commercial Real Estate Finance Council
- Council for Affordable and Rural Housing
- Institute of Real Estate Management
- Manufactured Housing Institute
- Mortgage Bankers Association
- National Affordable Housing Management Association
- National Apartment Association
- National Association of Home Builders
- National Association of Residential Property Managers
- National Multifamily Housing Council