The impact of the coronavirus pandemic has been devastating, and all the ways that it will impact the national and world economies are still to be seen. But, as the economic impacts of this crisis continue to take shape, the issue of rent/mortgage payments persists, and many in Toledo are anxious about what the future holds.
The Toledo City Paper understands that residential housing and the brick-and-mortar spaces of locally-owned businesses are a top priority, so we’d like to hear how the coronavirus pandemic has changed your expectations of rent and housing costs.
If you are a renter or a landlord, please tell us if, or how, you plan to deal with April rent. Landlords, share with us whether or not you have offered your tenants rent forgiveness, payment plans, or if you expect tenants to pay rent as usual. If you are a homeowner or a mortgage holder, share with us your concerns and options as we move into April
Please send your stories, thoughts or ideas to [email protected] including “April Rent” in the subject line. Submissions will be listed anonymously and should be no more than 250 words. Photos are encouraged.
For renters— especially those who have been laid-off or are experiencing a massive pay cut— the ability to afford one month’s rent might be difficult. In mid-March, with input from Mayor Kapszukiewicz, Toledo Municipal Court’s Housing Court postponed all eviction hearings until May 1. Around the same time, President Trump said that the Department of Housing and Urban Development will suspend “all foreclosures and evictions” through the end of April. These directives occurred prior to this article being uploaded and the dates mentioned here can, and likely will change, providing additional time in the future.
While that plan might offer some respite, the option of postponing a potential eviction is hardly a relief when the eviction itself can still be pursued. But it is important to remember, we are all in this together. Landlords who seek to evict tenants may find it difficult to secure new renters, or mortgage holders who look to foreclose may end up with significant vacant housing stock. With the future uncertain, and not predictable, it is likely the best approach to “wait and see.”
For small business owners affected by the state-mandated closure of non-essential businesses, revenue streams are running dry. While many are adapting to the changing landscape and finding makeshift revenue-generating opportunities, like restaurants shifting to delivery and carry-out, the income does not compare to revenue generated during typical operations. For small businesses unable to find a temporary solution or way to transition, revenue to pay bills and wages is negligible. Small Business Loans and other support systems are available, but, as April rent payments are soon due, many small businesses are facing the prospect of permanent closure, prodding business owners to come to an agreement with their landlord.
For landlords concerned about the ability of their tenants to pay rent, many are offering rent-forgiveness or payment plans to ensure safe, fair and affordable housing. Landlords have expenses also, including payments on mortgages, utility bills and real estate taxes.
