CARES Act and Landlord-Tenant Disputes: Rent, Mortgage Relief, Eviction Moratoriums, Related State Restrictions

Recording of a 90-minute premium CLE webinar with Q&A


Conducted on Tuesday, June 16, 2020

Recorded event now available

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Program Materials

This CLE webinar will focus on the impact of the CARES Act on landlord-tenant law, focusing on income assistance for residential rent, SBA loans for commercial tenants, and the current moratoriums on both foreclosures and evictions for properties with federally-backed mortgages. The panel will address initiatives taken at the state level in California, New York, Pennsylvania, and other states to provide relief to tenants during the COVID-19 pandemic and what that may mean legally for property owners.

Description

The CARES Act has several provisions and programs that will have an immediate impact on real estate owners, developers, and managers. The Act offers income assistance by increasing unemployment benefits and providing a direct cash payment to most Americans. Counsel will need to guide clients and businesses on the requirements attached to CARES funding and the impact of government relief on rent collection.

Counsel must also know how the Act may affect borrowers with certain federally-backed mortgage loans. Property owners of both single and multifamily properties have the right to request forbearance on their loan due to financial hardship from the COVID-19 emergency, although limitations on that right do apply. Borrowers must be aware of the limits and requirements for the forbearance period.

Counsel should advise landlords of property with federally-backed mortgages that the CARES Act grants a moratorium on eviction of tenants while the landlord is in forbearance. In the evolving financial and legal climate, counsel must ascertain and advise clients and businesses of other restrictions on legal action by landlords, including limits on evictions for properties covered under the Violence Against Women Act of 1994 or specific rural housing voucher programs.

Several states are taking more aggressive action in limiting the ability of landlords to remove tenants or force the collection of rent and fees. With the majority of courts closed except for emergencies, landlords and tenants need advice on best practices. Landlords and tenants are likely to seek counsel on the best methods of negotiating new or revised lease terms as the COVID-19 financial crisis continues and escalates.

Listen as our expert panel provides details on navigating the impact of the CARES Act on the real estate industry and addresses the practical concerns of property owners, landlords, and tenants in this current environment.

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Outline

  1. CARES ACT
    1. Financial assistance for real estate businesses
    2. Residential property relief
      1. Rent and loan obligations
      2. Eviction moratorium
  2. Lease negotiation practical issues
    1. First, look to the language of the lease
    2. Landlord perspective
    3. Tenant perspective
    4. Impact of state and local law

Benefits

The panel will review these and other highly critical matters:

  • The CARES Act impact on income and any limitations placed on government stimulus or unemployment benefits
  • The procedures, requirements, and limits on foreclosure forbearance for federally-backed mortgages
  • The restrictions on evictions of tenants who occupy property with federally-backed mortgages
  • How states have implemented additional eviction restrictions
  • Best practices for renegotiating a lease during the economic downturn

Faculty

Abell, Patrick
Patrick Abell

Attorney
Thompson Hine

Mr. Abell's practice includes representing clients in the acquisition and sale of real estate; ground, retail and...  |  Read More

Baker, Jonathan
Jonathan S. Baker

Partner
Mayer Brown

Mr. Baker represents US and foreign private equity funds, real estate investment trusts, insurance companies,...  |  Read More

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