Landlord cancels rent for 3 months and tells tenants to spend money locally

Although the coronavirus pandemic has put many of us into thorny life situations, it’s been incredible to see the powerful acts of shared humanity coming from unlikely heroes. The latest example of this comes from New Jersey, where a landlord by the name of David Placek recently told his tenants he’d cancel rent for the next 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 will cost Placek around $50,000, the New Jersey native says he feels “fortunate” to be able to waive rent, noting that some landlords wouldn’t be in a position to do so. The landlord’s forgiving rent policy comes as states and cities across the country implement eviction moratoriums, recognizing that tenants will inevitably be unable to pay for their shelter in the coming 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.

Solution News Source

Landlord cancels rent for 3 months and tells tenants to spend money locally

Although the coronavirus pandemic has put many of us into thorny life situations, it’s been incredible to see the powerful acts of shared humanity coming from unlikely heroes. The latest example of this comes from New Jersey, where a landlord by the name of David Placek recently told his tenants he’d cancel rent for the next 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 will cost Placek around $50,000, the New Jersey native says he feels “fortunate” to be able to waive rent, noting that some landlords wouldn’t be in a position to do so. The landlord’s forgiving rent policy comes as states and cities across the country implement eviction moratoriums, recognizing that tenants will inevitably be unable to pay for their shelter in the coming 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.

Solution News Source

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