Landlords face mounting debt as state moratorium on tenant extended

ALBANY – Residential landlords have been prohibited from evicting tenants who cannot pay their rent because of the economic impacts of the COVID-19 pandemic.
On Monday, Governor Cuomo announced the extension of the Tenant Safe Harbor Act to January 1, 2021.
Mike Acevedo is a residential landlord in Newburgh and other areas of Orange County and serves as president of the county landlords association.
He has lost $85,000 in rent is concerned about how he will be able to pay his school taxes.
Acevedo believes the governor is not thinking about the financial plight of the landlords.
“He is thinking about the tenants who are getting money and none of them that I talk to have any of the money. They are just spending it, which is great for the economy, but it is doing lousy for landlords,” he said. “Landlords from all over the state are complaining.”
Cuomo first instituted the moratorium on evictions on June 30.
“As New York continues to fight the pandemic, we want t make sure New Yorkers who are still struggling financially will not be forced from their homes as a result of COVID,” the governor said on Monday.

NEWS STORY PROVIDED BY: Mid Hudson News -www.midhudsonnews.com


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