Today’s Solutions: October 05, 2022

Although the coronavirus pandemic threw most of us into more than thorny life situations, it’s was incredible to see the powerful acts of shared humanity coming from unlikely heroes. An example of this came from New Jersey, where landlord David Placek, cancelled his tenants rent for three months. The only thing he asked in return was that his renters “pay it forward” by supporting local businesses during the coronavirus pandemic.

While the decision cost Placek around $50,000, the New Jersey native says he felt “fortunate” to be able to waive rent, noting that some landlords were not in the position to do. The landlord’s forgiving rent policy came as states and cities across the country implemented eviction moratoriums, recognizing that tenants would be inevitably unable to pay for their shelter in the following months.

However, advocates and legislators warn the moratoriums aren’t enough. They only temporarily stall the problem, potentially leaving tenants with a mountain of unpaid rent and flood of eviction notices as soon as the pandemic abates, leaving a housing crisis in its wake.

So, advocates have more recently pressed for what Placek’s already done: rent cancelation during the height of the crisis. We’ll keep an eye out to see whether this winds up happening or not.

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