Renters and landlords face uncertain future during pandemic
Dennis Schvejda, a landlord who owns two apartment buildings with 16 units in Walton, New York, was worried as May began. After expenses—which include maintenance, utilities, and taxes—his taxable apartment income is about $115 a week, he said. With the US facing unprecedented job losses and the steepest economic reversal since the Great Depression, he didn’t know if the May rents would be coming. If not, he said, he would have been forced to sell.