Due to the current crisis, a growing list of small businesses across the country are having trouble making ends meet.
If some Democrats get their way, all landlords across the country would be added to that list.
Landlords are struggling enough as is. Despite this, politicians on the left want to cancel all rent payments across the country for the foreseeable future with the Rent And Mortgage Cancelation Act.
— Ayanna Pressley (@AyannaPressley) May 2, 2020
“While folks are navigating a new normal, just trying to stay alive, they shouldn’t also be worried about paying the rent,” Massachusetts Rep. Ayanna Pressley said in a video posted on her Twitter account on Saturday.
“We should just cancel that and eliminate that worry.”
Like many other Democratic policies, Pressley’s suggestion sounds compassionate, but it would come with myriad consequences, in this case for landlords everywhere.
Landlords are no different than other business owners. While all this talk of nationwide rent cancelation goes on, landlords across the country are already struggling to make ends meet due to the fact that many Americans have not been able to make their payments.
“The key for landlords is to be flexible,” Priscilla Almodovar, CEO of Enterprise Community Partners, a national nonprofit developing affordable housing, told CNN. “They should reach out to tenants and make that connection with residents. They are in it together and they have a common interest.”
At least some renters are still paying their landlords. If these Democratic politicians get their way, no one will be paying and according to at least one expert, that could come at a cost to the entire industry.
“This isn’t a huge margin industry where you have a lot of money readily available,” said Robert Pinnegar, president of the National Apartment Association. “That is a misconception.”
Pinnegar went on to say that May will be a pivotal month for the future of the rental industry itself.
Despite an entire industry being at risk, Pressley isn’t the only Democrat pushing for cancelation of all rent during the crisis.
Rep. Ilhan Omar of Minnesota, Sen. Bernie Sanders of Vermont and Rep. Alexandria Ocasio-Cortez of New York have been pushing for cancelation as well.
We are not lacking in resources — we are poisoned by greed. As millions of people are struggling to keep a roof over their head, we need a massive grassroots uprising to #CancelRent and mortgages.
— Ilhan Omar (@IlhanMN) April 30, 2020
We need to cancel rent and cancel mortgages for the duration of this crisis.
— Bernie Sanders (@BernieSanders) May 5, 2020
— The Hill (@thehill) April 28, 2020
Despite what many Democrats may think, not all landlords are greedy, oppressive businessmen trying to squeeze every dime they can out of their renters.
Many have their own staff, bills and taxes to pay. The Rent And Mortgage Cancelation Act would not only ruin the lives of many landlords but quite possibly also destroy the rental industry.
During a national crisis such as this, sacrifice is inevitable. However, it shouldn’t be up to Democrats like Ayanna Pressley to determine who is doing the sacrificing.
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