The eviction moratorium issued by the CDC is set to expire at the end of January. Unfortunately, Governor Walz this week again extended his emergency powers for another 30 days which includes an eviction moratorium.
Additionally, the Biden administration is considering a new eviction ban until September 2021, but is promising rental assistance for landlords and legal help for tenants. See article here: https://www.cnbc.com/2021/01/14/biden-calls-for-30-billion-in-rental-assistance-longer-eviction-ban-.html
In looking at the landscape and discussing the situation with multiple peers and eviction attorneys, we are predicting Walz will fully open all the restaurants and gyms and remove barriers for sports first. As seen previously, this will be done in stages. Once everything is open, he will pause for 30 days to ensure the COVID rates are not climbing. Once he is satisfied, he will not renew his emergency powers which will also eliminate his eviction moratorium. At this current pace, we are estimating this could be May or June.
Remember that even once the eviction moratoriums are lifted, we will have 12+ months worth of evictions to process through the courts. In a normal cycle, it previously took 3-4 weeks to get to court. With 12 months of evictions and the exponential number of tenants behind in rent now, plus new court guidelines, it could be 2-4 months to get to court once filed.
Rental Management Guys will continue to work with tenants to encourage them to find money from non-profits and the government. The CARES act extension that was passed at the end of December does have more money to help renters, although we have not received any information on how to access that.