Articles — CARES Act

NOTE: HUD has issued new guidance since this article was written. Click here to see the new information.  It’s been a while since I’ve had good news on the housing front, but I’m here to bring some positivity today.  BURYING THE CARES ACT  Congress passed the CARES Act last spring in as its first wave of relief in addressing COVID-19. It covered any property that participated in a federal government program or that had a loan insured by the federal government. For those properties, it created an eviction moratorium, a ban on late fees, and a requirement that landlords give...

Hey gang. Hope you’re doing well as we close out 2020 and start our new year. I wanted to give an update on where things stand right now.  New COVID-Relief Package  As most of you know, Congress passed and the President ultimately signed a new relief package. While the details of individual payments are still a bit fluid, here’s what we know about the rental issues in the package:  The Bad News - The CDC Eviction Moratorium has been extended through January 31, 2021. This means that any eviction cases that were continued from 2020 into January 2021 will likely...

Governor’s Executive Order As most of you know, for the first time in a long time, the Governor issued a new Executive Order yesterday with mandates. The Governor’s most recent mode of operation had been to issue recommendations, rather than mandates, but yesterday’s order was a mandate. You can read the entire order here. Fortunately, there’s not much in the order that will affect the rental industry. Most property management offices have been deemed to be essential services, so I do not believe that the 33% office requirement applies to you. However, I do think you’ll need to reduce capacity...

In most parts of the state, the courts are accepting eviction filings, so I wanted to give an update on what I’m seeing and hearing: Some counties (Clark, Madison, Mercer) are interpreting the Kentucky Supreme Court’s order allowing evictions to proceed as requiring ALL landlords to give a 30-day notice prior to filing an eviction. I think that is the wrong interpretation of the order, as the 30-day language in the order is only mentioned in connection with the CARES Act. What’s more, if every property was required to give a 30-day notice, there would be no reason to also...

We’re a few days into the aftermath of the recent order from the Kentucky Supreme Court allowing nonpayment evictions to move forward as of August 1. That news has a lot of rental owners and managers scrambling to get notices out to tenants to pay or vacate. So, I wanted to address some logistical issues and questions that I’m getting. The new order requires all properties covered by the CARES Act to give 30-day notices to pay or vacate. There is an argument under the CARES Act that this 30-day notice requirement ONLY applies to rent that was due from...