Despite all that’s going on in the Bay Area and the world – the coronavirus, high unemployment, social unrest – approximately 90 percent of Bay Area renters made their June payments or at least a partial payment. With nearly 5 million Californians out of work, stimulus payments, supplemental unemployment benefits and simply prioritizing rent seem to have gone a long way.
However, with some federal benefits due to end in July, there is considerable concern over what’s ahead. Currently, California lawmakers are considering allowing landlords to receive tax credits in exchange for forgiving rent. Tenants would have years to repay the debt and some may be eligible for debt forgiveness.
While many cities and counties have enacted eviction moratoriums to protect the most vulnerable, many of these measures are scheduled to end soon.