This will be interesting. Renters definitely need it, so badly, that I think an unintended consequence will be rent unpaid that might have been, at least in part. It’s going to be a tough winter. TSLA selling $5B of their shares as fast as they can.
Thing is, it's not a rent forbearance, it's an eviction forbearance... if you lost your job in March, and your rent is $2000 a month, and you haven't paid since April, you're in your house but you're also $10k in the hole. This adds $6k to that total. Come January you're likely evicted and also bankrupt unless something else happens. I've been thanking my lucky stars that we don't have tenants anymore. We'd be down double digits. Except I think the way our contract was written our property manager would be eating it - the main point of hiring a property manager, from our perspective, was to have someone else deal with late rents and evictions. Which I think is true more often than not.