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Landlords, property managers feel sting of new CDC guidelines

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Posted at 5:46 PM, Sep 03, 2020
and last updated 2020-09-03 20:42:27-04

The CDC's new eviction moratoriums are good news for renters, but property managers and landlords are feeling the impacts of this decision.

Keller Williams Coastal Bend Realty Property Manager Michelle Knight knows all-too-well how this pandemic has affected the majority of Americans, especially locally.

"Everybody is impacted, is the point there," she said. "It's not a good thing for anyone.”

While renters who are having financial troubles can breathe more easily for a bit, a feeling of uncertainty still exists for property managers and landlords wondering where their next paycheck may come come from.

She said while it's important to have compassion for renters, it is also important to understand the impacts it can have on landlords and property managers.

Their situations might be a little more similar than people realize.

"We get paid based on rents we collect," she said. "So it's impacted us, because if I'm not able to collect rent on properties that I manage, then I'm not able to be paid.”

This situation is tough on homeowners who are renting their property, but have a mortgage to pay.

"The property owner owns the property -- most of them have some sort of mortgage," Knight said. "They have been given some type of deferment, but the deferments are only for a three month increment.”

Once those three months are up, the homeowner would have to pay the total amount owed in one payment.