ORLANDO, Fla. — More than half of Orlando-area rental properties say fewer people were able to pay rent this April, according to a poll by the Apartment Association of Greater Orlando.
Nationally, reports say on-time payments were down by 13 percent compared with last year.
“I think it was roughly 50 to 60 percent that said it was higher than normal delinquency, but it wasn’t a staggering number,” said Chip Tatum, the CEO of AAGO.
Tatum said there are about a million Central Florida families in rental properties.
The thought is that many people could still pay April rent despite thousands being furloughed or laid off because they still received a final paycheck. Next month that won't be the case.
Industry officials worry the lag time to get out state and federal unemployment checks will mean tenants won't have money to pay.
They said that lack of rent revenue means less money for rental companies to pay complex staff members, which has led to layoffs and furloughs in the industry.
Smaller companies with 500 or fewer workers can get an Small Business Association loan, and there is some help in the Cares Act for low-income and affordable housing.
“It included mortgage forbearance for federally backed loans but unfortunately that only covers about half of the multifamily mortgages that are out there,” said Amanda Gill, government affairs director for the Florida Apartment Association.
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