COVID-19 Property Management Updates
Blue Roof Property Management
We have initiated protocols to protect our residents, our vendors and ourselves from exposure. Our office is virtually capable and we are operating with limited disruption to service. With guidance from the CDC, Oregon Health Authority, our Housing Associations and peers should help to alleviate exposure and the spread of COVID-19. We continue to evaluate and plan for further potential disruption the virus may bring. We continue to focus and adjust to curtail the spread of COVID-19 wherever possible, protect the housing and residents we manage.
After discussions with our vendors, most have COVID-19 protocols in place. Those vendors with protocols in place are ready to move on any emergency repairs as needed. All cosmetic and non-emergency repairs with residents occupying the unit are cancelled and will be rescheduled after this crisis. Rental turns on vacant properties will continue as usual.
Some residents may experience financial hardship as a result of the COVID-19 virus. Many may be in professions that are ordered closed. We are compiling a list of available assistance in order to help alleviate some of the financial strain some will experience. Other more direct assistance plans are being reviewed for possible deployment.
We will continue to support the efforts of our Management Associations in their lobbing efforts of our elected leaders, both locally and nationally to provide financial relief for property owners and landlords who are affected by the COVID-19 pandemic.
Locally
As you’ve likely heard in the news cycle yesterday, Multnomah County and the City of Portland have put a moratorium on evictions for nonpayment of rent while the state of emergency regarding the novel coronavirus, COVID-19, is in effect. The current state of emergency expires on March 26 and will likely be extended. Renters who have had interruptions to their income during the state of emergency, and are unable to pay rent, will have six months to repay. The six-month repayment period begins after the state of emergency expires.
During Mayor Ted Wheeler’s comments, he indicated that the city is holding conversations with the banking and credit union industry to secure financial relief to housing providers during this time. We will continue to press the Portland City Council and other policymakers to bring solutions forward that provide relief to our members and will keep you updated as these conversations progress.
Our Associations continue to offer support and assistance. For the sake of our region’s housing supply, it is critical that state leaders follow this announcement with immediate and meaningful rental assistance to prevent a wave of rental property foreclosures.
Nationally
President Trump today announced he is directing the U.S. Department of Housing and Urban Development (HUD) to suspend all evictions and foreclosures through the end of April 2020. This follows similar actions by governors and mayors in several jurisdictions across the country. Nationally, at least 35 jurisdictions announced eviction moratoriums in light of the spread of COVID-19 with more considering legislation or mandate by judicial action or law enforcement. No details of the President’s order have been provided yet, but NAA is in direct communication with HUD leadership and we are assured that guidance is coming soon.
The Federal Housing Finance Agency (FHFA) announced it has directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days due to the coronavirus national emergency. To clarify, the FHFA foreclosure and eviction suspension applies to homeowners with an Enterprise-backed single-family mortgage.