The national eviction moratorium is set to end this month.
Are you ready? Because when it does, courts will be flooded with evictions.
And if you know anything about bureaucracy, you know that clogged courts mean evictions will take much longer to process. Pending evictions will be backlogged. New evictions will be delayed as well.
We could be talking years, guys.
There will be billions of dollars' worth in back rent owed to landlords. It's a no-brainer to say this will impact investors. You have to decide whether to charge the full back rent immediately, offer payment plans, or forgive all or a portion.
Last September, the Center for Disease Control (CDC) issued the Eviction Moratorium, halting residential evictions in response to the coronavirus pandemic. Texas and other states have already stopped enforcing it, but the moratorium takes effect nationwide June 30.
It's so important to make sure the right legal structure is in place now. The Royal Legal Solutions team can help you with this process. Take our quiz to get started!
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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