In COVID-19, News & Updates, Property

In a recent article by Fox Business, Joseph Hernandez, Partner and Chair of the Firm’s Real Estate Practice Group, discusses moratoriums during the COVID-19 pandemic. More than 25 states have placed a moratorium on evictions to protect tenants during the economic standstill, including Florida.

“When a significant economic event occurs, such as the closure of most businesses due to the COVID-19 pandemic, the result is a rapid increase in unemployment and, consequently, a rapid increase in both residential and commercial tenants that are unable to pay rent,” Joe said. “In such an event, moratoriums can be beneficial.”

Joe further explained, “A moratorium on evictions encourages landlords to address issues with tenants directly and find a non-judicial solution. It also prevents a backlog of eviction cases, which could potentially cause greater economic harm, because evictions involve a lengthy process that diverts resources from landlords and tenants.”

In Florida, the moratorium on evictions is set to expire on July 1.

Read the full article here.

Start typing and press Enter to search