Since the breakthrough of the pandemic, rent payments have triggered chaos for landlords and tenants. Both parties have suffered immensely from loss of jobs, salaries, and their ability to pay bills. The recent eviction moratorium renews rent policies on a nationwide level, becoming a breath of fresh air for New Yorkers specifically.
New York City has one of the highest-paid rents nationally, setting tenants at a constant struggle in keeping up with their responsibilities. C.D.C.’s action in barring evictions till the end of the year means that landlords will remain handcuffed until the order expires. The high standard of living combined with salary cuts proved to be a massive issue for tenants undergoing these circumstances.
Guarantors in New York City need to be making 40-45 times the amount of monthly rent in order to fulfill the requirements; and not only that, but a good credit score is also needed to obtain an apartment. New Yorkers aim to battle the high demands of the city; but, the current circumstances of the pandemic create boundaries.
Landlords revealed frustration throughout the pandemic as some filed lawsuits against Governor Cuomo and his eviction moratorium of that time. His action supposedly violated New York State law by enacting his executive order on May 7th, pausing evictions till August 19th. However, considering the harm the pandemic caused in NYC, this wasn’t enough to offer tenants a feeling of safety. No law was permitted in NYC providing a rent freeze or suspension, which would act as a somewhat rent relief.
All in all, whilst people continuously kept losing their jobs and salaries due to the pandemic, rent payments were still on the line and due. The current eviction moratorium sets a hold nationally until the end of the year; however, besides the strict rules not allowing for evictions, NYC’s rocket high rent prices still make it tough for tenants to survive.
