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Top landlords push to end eviction moratorium

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The California Rental Housing Association is suing Californiat to end the eviction moratorium immediately, saying it is illegally interfering with their businesses.

Tenant advocates expressed surpise at the move, noting that all landlords will ultimately recieve toltal reimbursement for back rent from a $5.2 billion federal aid fund.

Th problem seems to come from state and localities struggling to distribute $5.2 billion in federal rent subsidies and $2 billion in state aid for unpaid utility bills.

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Slow rental assistance distribution will mean evictions

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The U.S. Treasury disbursed $25 billion to states for rental assistance in February. Congress then allocated another $21 billion in March. By the first of June only $1.5 billion of that money had actually reached renters – a total of 176,000 households.

With the federal moratorium on evictions set to expire at the end of July, a huge number of renters could be facing eviction. It is estimated that 11.5 million or 16% of all renters have fallen behind on their payments.

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NAR calls for help for struggling landlords

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While much has been made about the extension of the eviction moratorium, the National Association of Realtors (NAR) is calling for emergency rental assistance for property owners who are facing their own financial crisis.

The NAR points out that landlords must still make payments on their property but will have no source of income under the moratorium extension. The vast majority of these property owners are mom-and-pop investors who are in danger of losing their properties.

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