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Nevada State Apartment Association warns of worsening housing crisis on 'other side of pandemic'

NVSAA response to CDC's new eviction moratorium
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Posted at 6:38 PM, Aug 03, 2021
and last updated 2021-08-04 03:01:33-04

LAS VEGAS (KTNV) — The Nevada State Apartment Association says rental assistance distribution has been "slow" and warns of a worsening housing crisis on the other side of the pandemic the longer the eviction moratorium remains in place.

WATCH A HOUSING PANEL DISCUSSION HERE

The organization, which represents housing providers, made the claims in a statement responding to the Centers for Disease Control and Prevention's latest eviction moratorium, which runs through Oct. 3.

The NVSAA says rental assistance is key for both landlords and tenants, but claims landlords have been left to foot the bill in many cases where tenants' applications for rental assistance are denied.

Read the full statement from NVSAA Executive Director Susy Vasquez below:

This new moratorium has to do more with rental assistance;, than increased COVID-19 cases. At the end of the day, rent assistance distribution is the answer to make landlords and tenants whole. We are extremely disappointed that the transparency promised by AB486 is just not happening. Rent assistance programs need to work with the courts, mediators and/or landlords. Thousands of applications have been denied and those tenants continue to be protected and housed for free. CHAP needs to provide full transparency and we have to move forward with those who were denied or Gov. Sisolak needs to expand the landlord program to reimburse all landlords who continue to house those who did not qualify for rent assistance.

The longer the eviction moratorium stays in place, and the longer it takes for rental assistance to reach those who desperately need it, the worse the housing affordability crisis will be on the other side of the pandemic.

The CDC’s eviction order leaves renters facing insurmountable debt and jeopardizes the ability of rental housing providers to provide safe, sustainable and affordable housing. The distribution of critical rental assistance has been slow; renters and rental housing providers desperately need these funds to catch up on their bills.

The industry has been left to foot the bill for rental arrears for more than a year now – and as a small profit margin industry, many rental housing providers won’t be able to hold on much longer, given:

  • Only 10 cents of every rental dollar is profit.
  • Small mom-and-pop landlords are struggling and aren’t the exception—they own more
than 50% of the nation’s rental housing stock (22.1 million units).
  • About 30% of mom-and-pop landlords are considered low- to moderate-income,
meaning they make less than $50,000 per year (Brookings Institute Report).

The bottom line is that eviction is always a measure of last resort – the industry is in the business of housing people, and trying to find another tenant means additional lost rent and more hassle for rental housing providers.

13 Action News hopes to get a little more clarity on this issue. We hosted a special panel of experts to discuss the evictions moratorium and answer questions many in the community are facing. To watch the special click here.