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The Eviction Moratorium Is Ending. Here’s What You Need to Know
Denver has been following the CDC’s eviction moratorium, which is set to expire on July 31. What will change for renters? And, where can you go for support?Madi Skahill •
July 14, 2021
The pandemic year was difficult for countless Coloradans. But with federal and state measures to pause evictions in place since early 2020, the worry of being forcibly removed from one’s home was, at least, eased for residents experiencing drastic financial hardships. The tide, however, is about to shift. The U.S. Centers for Disease Control and Prevention’s (CDC) eviction moratorium is set to expire on July 31 after a series of extensions, putting millions of Americans at risk of losing their homes.
Colorado’s rent collection rate was higher 0.9 percent higher than the national average at 97.9% as of May 27. That s 1.1 percent higher than rent collections from the previous year,
The Colorado Apartment Association has also been raising funds to assist tenants who fall behind on rent. Renters can apply for that help through the Resident Relief Foundation.
What can landlords do?
Landlords and other property owners may be able to seek forbearance from their mortgage lender. If the lender agrees, the landlord can delay their monthly mortgage payments. For federally backed loans including those affiliated with the VA, USDA and HUD the deadline to apply is June 30. There is no current deadline to ask for forbearance on mortgages backed by Fannie Mae or Freddie Mac. Here’s how to tell if your loan is federally backed.
The Colorado Apartment Association reported the state s rent collection rate was 96.7 percent as of April 27, 0.5 percent lower than rent collections from the previous year, with a 96.2 percent rate recorded in April 2020, according to data analytics firm RealPage. Â
The state has outperformed national rates since tracking rental payments began in April 2020, according to a release from the CAA. According to the National Multifamily Housing Councilâs (NMHC) Rent Payment Tracker, 95% of apartment households in the United States paid rent in the month of April, 1.7 percentage points below Coloradoâs rent collection rate, the release said.
âA 96.7% collection rate in April continues to show us that Colorado residents are able to receive rental assistance, work with their rental housing providers and pay their rent, therefore, the system is working,â Mark Williams, executive vice president of the Colorado Apartment Association, said in the release. â