Congress did not pass any new legislation and, in fact, its initial moratorium expired in July 2020. After that point, the extensions were directed by the Centers for Disease Control and Prevention, which claimed it was authorized by a 1944 law to mandate that people stay in their homes so that they would not be put into situations where they might become infected with and spread COVID-19.
In most locations, summer is the time when residential utility use really skyrockets. The air conditioning is on full blast and people stay in seeking refuge from the heat, using lights and electricity during peak hours when rates may be higher. Sweaty weather also means more showers and loads of laundry, increasing water bills.
After years of upward momentum, the national rental market took a definitive slide during the pandemic as many tenants bunked with family and friends to both save money and have some companionship during long shelter-in-place orders. One out of every 14 multifamily properties in the U.S. saw occupancy drop by 5 percent or more between April 2020 and April 2021, according to a study of Yardi Matrix data.
Property owners nationwide should anticipate across-the-board utility increases in 2021, with some jurisdictions expected to see double-digit rate hikes. Yet there are proactive steps owners can take now to hedge against these additional expenses.
With days to go before the end of a nationwide eviction moratorium, the Centers for Disease Control and Prevention has extended the federal order until June 30. The previous extension was due to expire at the end of March, which was already an amendment to the original end-of-January extension...