In any case, the primary reason for the extension is to keep people in their homes, thus preventing the spread of the virus. Between March and September under President Trump, the eviction moratoriums were lifted and the results were disastrous to say the least.
As per researchers from the John Hopkins University, the University of California, Los Angeles, the University of California, San Francisco, the Wake Forest University School of Law and Boston University, lifting these restrictions and evicting people led to an estimated excess 433,700 COVID-19 cases. Of these, 10,700 died.
As a result, there has been renewed importance regarding the moratoriums. While America has started its vaccine rollout, there is still a very long way to go before things return to ‘normal’.
However, in relation to the property preservation and inspection industry in America, the planning needs to start now as there will be a lot to get through when the calendar hits June 30.
The inspection side of things in particular could be very busy – considering these citizens are unable to pay their rent, it’s unlikely that they would be able to afford to fix things around the house that if broken, would fail inspection.
As such, if the tenant decides to leave, the property won’t be able to be leased out until it has been fixed. Due to the gravity of this situation, significantly more foreclosures than normal are going to require inspection.
In addition, the subsequent repairs from the preservation side of things are likely to be plentiful – to the point where they are very likely to exceed the capabilities of what the companies can do – even with an efficient and skilled hand-picked team.