{"id":12668,"date":"2020-04-09T11:28:20","date_gmt":"2020-04-09T15:28:20","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=12668"},"modified":"2020-04-09T11:29:37","modified_gmt":"2020-04-09T15:29:37","slug":"should-you-pay-rent-during-the-covid-19-eviction-moratorium","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/should-you-pay-rent-during-the-covid-19-eviction-moratorium\/","title":{"rendered":"Should You Pay Rent During The Covid-19 Eviction Moratorium?"},"content":{"rendered":"\r\n

If you decided not to pay rent in April 2020, you are in good company. About 31% of renters did not pay on time<\/a>, according to the National Multifamily Housing Council. Clearly, this is a time of financial hardship for many, and governors everywhere have announced a halting of foreclosures and evictions. But is this number truly reflective of the current Covid-19 eviction moratorium?\u00a0<\/p>\r\n\r\n

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Ignore The Headlines – Bad But Not So Bad<\/h2>\r\n\r\n\r\n\r\n

So far, all of the headlines have said 1\/3 of America is not paying their rent. That sounds horrible, but that’s the problem with sensational headlines. Everyone reads it and assumes we dropped instantly from 100% of people paying rent to every third household becoming deadbeats. It’s not true.<\/p>\r\n\r\n\r\n\r\n

Just the month prior, for rent due March 1st, prior to almost all of the USA Covid-19 spread, only 81% of households paid their rent on time according to the same data source, the NMHC. And that was the month following all-time highs for the economy on many fronts (record low unemployment with record high stock markets).<\/p>\r\n\r\n\r\n\r\n

It also helps to look at one year prior, where 82% of households paid rent on time. So 81% to 69% is the number. Yes, it’s a big blow to landlords. An increase from the usual 19% delinquent renters to 31%. More than a 50% increase in late or unpaid rent. But it’s not the mass wave of deadbeats suggested, where an apartment complex has 300 paying tenants and suddenly 100 of them stop.<\/p>\r\n\r\n\r\n\r\n

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