Stimulus Check: What To Do If You Are A Renter

One of the biggest problems that most Americans faced during the last year was paying their rent– which got solved by the stimulus check. This has cropped up its ugly head yet again, leading Congress to come up with an eviction moratorium- which is going to be held later this month. The moratorium will highlight those who don’t have a source of regular income or a job. So if you are one amongst the teeming millions, you don’t have to panic over your stimulus payment. 

Coronavirus stimulus check for renters

The pandemic has increased the prices of homes, which has brought quite a respite to most of the homeowners. Yet, this hasn’t been transferred to the renters- who are pretty much in the mud without the government aid. The stimulus check has really alleviated their situation along with a national ban on evictions that have been imposed.  

Unfortunately, this eviction moratorium will be expiring on the 30th of June, which would leave the entire renter demography prone to being evicted. Close to 14% of the renters stay behind on their rent payment- a report stated by the Center on Budget and Policy Priorities. Yet another study from UCLA reports that 6 million renters are in debt of around $20 million in rent payment. 

There have been no distinct signs of a fourth stimulus check, which entails that once the eviction moratorium gets over, most of the renters will be looking at evictions and unemployment at the same time. 

Amidst the gloom and doom of the situation, there is a bright light- you do qualify for the stimulus check which would help you out in paying your rent. The stimulus cash is going to be a part of the emergency rental aid that has been provided by Congress in the last couple of stimulus packages. Congress has also approved close to $25 billion for rent relief- which found its way in the stimulus package that was passed last December. 

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