The City of San Diego extended its eviction moratorium through June 30th, 2020, to protect renters and businesses who have been impacted by Coronavirus, citywide lockdown and the closure of essential stores during the Pandemic.
This move reflects similar legislation nationwide as other cities and states have extended their eviction moratoriums through June 30th and even farther into summer.
Financial Aid To Tenants And Landlords Is Still Being Considered
There’s no doubt that both tenants and landlords in California are struggling right now as Coronavirus has impacted just about everyone from all walks of life.
Thankfully, as the City of San Diego continues returning to “business as normal,” the city is doing everything it can to help landlords and tenants following Coronavirus but significant challenges life ahead.
With an unemployment rate in California, that’s close to 20%, one of the biggest challenges is for the city and state to help people who have been unemployed for the last three months get back to work while also assisting landlords with financing so that they can avoid mortgage default on their rental properties.
Sadly, as San Diego city council member Scott Sherman recently said, an eviction moratorium extension only “kicks the can” down the road, or delays evictions, as renters continue stacking up debt with their landlords due to back rent that they may be unable to pay.
Coronavirus Highlights The Importance Of Owners And Tenants Working Together
Even though the Coronavirus Pandemic and the following eviction moratorium have been worse case scenarios for the City of San Diego, the good news is that during May, or month #2 of the lockdown, roughly 82% of renters in the San Diego area paid their contractual rents.
The percentage of tenants who paid their rents in May could be due to final stimulus payments, unemployment, and other benefits kicking in. As we enter the month of June, there’s hope that we will see similar statistics from renters.
Owners and tenants have been making the best out of a bad situation by working together during coronavirus, and this explains why the rental market in San Diego isn’t as bad as many people thought it would be.
What Happens After June 30th?
What’s going to happen after June 30th? The answer to the question is, it’s anyone’s guess. Still, the reality is that because the City of San Diego faces a possible “epic wave” of evictions, if the moratorium isn’t extended well past June 30th so it’s like that we may see another extension in the weeks ahead.
Contact GoldenWest Management
To learn more about what’s happening with the rental market in San Diego, CA, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or connect with us online by clicking here.