Affordable Housing Owner Says It Won't Evict Tenants This Year
Virginia and Maryland have begun to allow eviction proceedings to move forward after the pandemic-related bans, but one major affordable housing owner says it won't force out any tenants this year.
AHC Inc. told its tenants in a letter late last month that it will suspend all evictions through Dec. 31, the Washington Business Journal reports.
The firm, which owns roughly 7,000 units in Maryland and Virginia, also told tenants it is waiving all late fees and won't increase rents through the end of the year. AHC said it cannot forgive any rent balances, but it has created payment plans to spread out costs for up to a year.
The moratorium on evictions in Virginia ended in late June, and attorneys began to move forward with hundreds of pending eviction cases. Maryland's eviction ban expired July 25, and advocates feared a similar surge in eviction cases. Properties with federally backed loans were covered under a federal eviction moratorium that expired July 24.
While rent collections have stayed relatively strong throughout the pandemic, the $600 weekly federal unemployment benefits expired Friday without Congress passing another stimulus bill, a step multifamily leaders fear could damage the market.
Contact Jon Banister at jon.banister@bisnow.com.
