Monday, October 25News That Matters
Shadow

Tag: rent

He was 4 months behind on his rent. Why his landlord never mentioned eviction

Finance
Victor Washington fell behind on his rent during the pandemic. He and his landlord, Andrea Sorum, joined forces to keep him in his home.Source: Andrea SorumAt one point in the pandemic, Victor Washington was nearly four months behind on his rent.The problems began soon after he moved into the one-bedroom condo in South Minneapolis in October of 2020. Out of nowhere, a blood clot formed in his right leg and he needed a procedure. At the middle school where he worked as a custodian, he used up all of his paid vacation and sick time to heal.Then, in December, he got Covid. Washington's breathing became so bad, he landed in the hospital. He spent eight days there. He missed more work, this time without pay.Washington had to call his landlord, Andrea Sorum, and tell her that he wasn't going to ...
450,000 families ‘behind on rent because of Covid’

450,000 families ‘behind on rent because of Covid’

Business
Getty ImagesAlmost half a million UK families are thought to have fallen behind on rent, as a result of the coronavirus crisis, according to the Resolution Foundation.It said more than 750,000 had been behind on housing costs last month.That is 450,000 more than January 2020."Despite widespread calls for forbearance in the face of the Covid-19 shock, just 3% of private renting families have been able to negotiate a lower rent over the last 10 months," the think tank said in a report.Meanwhile, one in 20 private renters in the UK said they had been refused rent reductions.Tenants 'targeted' after asking for rent helpEviction ban in England extended until MarchMany had taken "huge hits" to their earnings and had "limited savings" to fall back on, research director Lindsay Judge said."To make...
Whitbread: Premier Inn owner asks landlords for rent cut

Whitbread: Premier Inn owner asks landlords for rent cut

Business
.css-94m6rd-HeadingWrapper{border-bottom:solid 1px #BABABA;padding-bottom:1.5rem;}.css-94m6rd-HeadingWrapper > *:not([hidden]):not(style) ~ *:not([hidden]):not(style){margin-top:1rem;}.css-vk3nhx-ComponentWrapper{margin:1.5rem 0;}.css-2y05cd-StyledFigure{font-family:ReithSans,Helvetica,Arial,freesans,sans-serif;font-weight:400;font-size:0.875rem;line-height:1.125rem;}.css-kwaqyc-StyledFigureContainer{position:relative;}.css-1xtcmof-Placeholder{position:relative;display:block;padding-bottom:56.25%;background-color:#EEEEEE;}.css-1xtcmof-Placeholder img{overflow:hidden;position:absolute;top:0;right:0;bottom:0;left:0;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:center;-webkit-justify-content:center;-ms-flex-pack:center;justify-content:center;-webki...

Second $1,200 stimulus checks could be coming. For many, that won’t cover the rent

Finance
Tenants and housing activists in Brooklyn, New York, protested in a Bushwick park on July 5.Erik McGregor | Getty ImagesNegotiations over the next coronavirus stimulus package on Capitol Hill ended the week in a stalemate.But there's one form of help lawmakers reportedly agree on: a second set of stimulus checks.This week's political impasse prompted President Donald Trump to sign executive orders on Saturday aimed at providing immediate relief in certain areas including extra unemployment benefits, extending the federal moratorium on evictions, deferring some student loan payments and initiating a payroll tax holiday.That's as the unemployment rate fell to 10.2% in July. While that is an improvement, about 1 in 10 Americans can't find work.More from Personal Finance:How negotiations over ...
Coronavirus: The shops refusing to pay their rent

Coronavirus: The shops refusing to pay their rent

Business
Andrea Orsini's family has run M Bar in London's Leadenhall Market for 40 years. But after shutting up shop because of the lockdown, he says he can't afford his next rent bill.He pays £70,000 a year to his landlord. On top of that, he must also fund a service charge, business rates and a tables and chairs license. It all adds up to £125,000 which, as he puts it, is a lot of tea and coffee. Round the corner, Patrick Dudley Williams, who runs the clothing brand Reef Knots, is in a similar position. He said it would not be sustainable to borrow money to fund rent for his shop, which is currently closed and in a part of the city that is unlikely to see customers return for some time.Their landlord, the City of London Corporation, s...