Although landlord and tenant groups are not completely satisfied with new law, it is imperative that rental property owners secure access to an infusion of cash. Let’s hope the government works speedily to get the dollars to landlords who chose to participate in the program.
We have several reservations about the bill, primarily that the legislation will not cover a large portion of renters whose income exceeds the eligibility requirements. Moreover, our community should not automatically assume that renters will cooperate with program requirements.
Already skeptical about the prospect of recovering rent debt, the new bill only dampers our outlook with new provisions. On balance, however, it should be welcome news for landlords who are operating their rental business with little cash flow.
Thanks so much. We look forward to powering through the many challenges our clients face.