"Expiring moratorium could complicate pandemic picture for renters," Columbia Regional Business Report

Posted On July 27, 2020

In an article published on July 21, 2020 in Columbia Regional Business Report, Ian McVey discusses how he is advising clients of best practices related to the pending moratorium
expiration, including a provision in the Coronavirus Aid, Relief and Economic Security Act
prohibiting the charging of late fees.

“HUD (the U.S. Department of Housing and Urban Development) is encouraging folks that are in the affordable housing industry to come up with deferments and work out rental assistance programs,” explains McVey. “I personally have been encouraging my landlord clients to try and work with tenants for issues related to nonpayment because I just think — well first of all, it’s the right thing to do, and second of all, it really is going to be better to keep your tenant in there if you can come up with some sort of payment arrangement than to start having empty units.”

McVey further shares that, for the most part, he is impressed with the way that people who are normally vilified – lenders, landlords – have handled themselves during this and that his clients have been very understanding and have recognized the mutual benefit of trying to work with people.

To view the full article, click here.