Eviction Moratorium Through December 31
Louisiana Realtors • September 3, 2020
Information regarding the latest order
On Tuesday, September 1, the Center for Disease Control (CDC) and the White House announced a new eviction moratorium. Louisiana REALTORS® is actively following this issue and has reached out to members of our Congressional delegation for more information and guidance for how this will impact Louisiana’s property owners. The order covers any resident who certifies they meet the below criteria may not be evicted for failure to pay. The CDC’s order requires residents to declare (under penalty of perjury) that they:
•Have used best efforts to obtain all available government assistance for rent or housing;
•Expect to earn no more than $99k (individual) or $198k (joint) in 2020; OR was not required to report income in 2019; OR received an Economic Impact Payment from the CARES Act;
•Are unable to pay the full rent or housing payment due to substantial loss of household income, loss of hours, lay-off, or extraordinary medical expenses;
•Are using best efforts to make timely partial payments;
•Eviction would likely render them homeless or force to move into close quarters in congregate or shared living settings due to no other housing options.
National Association of Realtors® (NAR) President Vince Malta, along with CCIM and the Institute of Real Estate Management (IREM), released the following statement in response to a new CDC and White House executive order halting virtually all evictions nationwide beginning September 4 and extending through the end of the year.
“While NAR appreciates and is supportive of administration efforts to ensure struggling Americans can remain in their homes, this order as-written will bring chaos to our nation’s critical rental housing sector and put countless property owners out of business,” said Malta, broker at Malta & Co., Inc., in San Francisco, CA. “Any eviction moratorium must also come with rental assistance for property owners, the vast majority of which are mom-and-pop investors and are still required to meet their financial obligations even as they cease to receive income on their properties.”
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NAR is pleased to share the latest consumer guide about contract contingencies and clauses that buyers and sellers may encounter in a real estate transaction. The guide defines common contingencies and clauses and helps consumers understand what happens if the terms aren’t fulfilled. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow up to two weeks for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Real Estate Contract Contingencies Understanding Condo Ownership How to Protect Against Real Estate Wire Fraud 5 Home Selling Tips for Privacy and Safety Do You Need Private Mortgage Insurance? What Is the VA Home Loan Guaranty? Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for the next consumer guide, which focuses on working with a remodeling contractor.
