Landlords Across The Country Are Waiving Rent Voluntarily For Their Tenants

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By Mayukh Saha / Truth Theory

On the face of grave circumstances created by the pandemic, people in the U.S. depending upon their monthly income are suffering a heavy blow. To be able to pay for housing or even bare necessities has become an alarming question for them. So now, many landlords, along with activists, are trying their best to help their tenants. They feel that rent for the month of April should be waived considering the plight of the times.

Landlords in the U.S. have initiated the process voluntarily to relieve their tenants of this burden. Mario Salerno, a resident of New York and the owner of eighteen apartment-buildings, will be losing a substantial amount of money because of this decision. He has an approximate of 200-300 tenants, and he cares for nothing more than they being in proper health and being able to feed themselves.

Read: This College Senior Is Making Coronavirus Facial Masks For The Deaf

But he is not the only good samaritan in the country. 

Many others are also coming up to help those in need. Last month, another such happy news from Arkansas spread on social media. A Facebook post from the Young Investment Company, in Jonesboro, mentioned that the restaurants under the company need not pay rent during this period. Instead, the owner Clay Young suggested that this money be used to pay the employees of the restaurants.

This company owns properties rented out to very famous eateries in the U.S. It is his concern that the small businesses anyway suffer the most. So he didn’t wish to pressurize them further.

Apart from these positive news, there are also hard facts to deal with. The country has reached record numbers this week with 6.6 million people filing for unemployment benefits.

The stock market also suffered from extraordinary losses resulting in an uneasy quake in the top rungs of the society. 500,000 people have been brought down from the list of 11 million millionaires in the country after the virus outbreak.

Read: Italy To Suspend Mortgage Payments Amid Coronavirus Outbreak

Bloomberg Billionaire Index reads into the major drop in the stock market to mention that the richest people in the world, around 500 strong, have lost nearly $1.3 trillion since the start of this year.

Moreover, this group, which also controls more than 53.5 percent of mutual funds and equities, has suffered a heavy blow.

There are varying pictures of the different levels of society during these trying times. But the hardest hits are still reserved for the people queuing up miles outside food banks since last week. Their lives aren’t getting any easier by the day. If a few of such tenants get relief from their landlords, they will always be grateful.

Image credit: NBC New York

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