Revisiting Our Past
Sadly, in 27 years of business, we are living with what is probably the most difficult government action to ever face property investors. If asked a year ago, we all might suggest changes in taxation policies as the biggest challenges we have faced from the government. Those now seem minor.
This is the time that we had held out hope the CDC declaration halting evictions would be ending. Instead, in his first day in office, President Biden extended the CDC declaration through "at least" March 31. In some ways this was a relief considering early reports had the then President-elect signing an order extending the declaration through September 31!
We continue to watch for how the newest COVID relief bill rental assistance funds for landlords will be made available. As soon as we get that information we will let you know. In the meantime, we are dusting off this article from last fall to provide a refresher on the CDC declaration.
It's important that rental owners understand the protections in this order. Almost every default action we pursue results in a response with the declaration packaged up nicely for the tenant by a social assistance agency. It is for this reason we hesitate to create new leases for struggling tenants and we suggest owners consider cash for keys as an alternative to waiting out eviction.
Not to mention that different Judges are handling this order in various ways making the possibility of receiving possession more and more challenging. These are time where creativity to find long-term solutions will yield the highest returns for your investments.
To Your Health WILMOTH Group | 
