Landlords feeling financial impact of COVID-19 pandemic as renters are unable to pay rent
PHOENIX - Aug. 1 is coming and to hundreds of thousands of Arizonans, that will mean rent is due, and many of them won't be able to pay it.
They likely won't be evicted, but what about their landlords who are missing out on those payments?
Landlords are often vilified in these scenarios as "heartless" and "cruel corporations" evicting families from their homes, but the head of the Arizona Multihousing Association, Courtney Gilstrap Levinus, says that is not the case.
She says many landlords are struggling financially, too, as the eviction moratorium was extended until Oct. 31 by Gov. Doug Ducey. It was due to end July 25.
"There's really no way that any business can survive by the time the executive order ends being fully operational, paying essential services, mortgages, utilities, property taxes, and getting no income. It's just not sustainable," she explained.
In some cases, she says the rent on a property is a landlord's only income.
"So they're your parents that own a second home that they rent out. They're your brother and sister who may have rental investments. A lot of times these are peoples' retirement plans. They may not have a 401K. They invested in real estate," Levinus explained.
She's pushing for the state rental assistance fund to be simplified. Only $1.4 million of the $5 million funds have been allocated.
She’s also encouraging tenants to apply for new county and city programs created to help people pay their rent.
Click here for more information about housing assistance in Arizona.