A Looming Crisis: Unprecedented Levels of Eviction
The United States might very well be on the brink of an unprecedented eviction crisis, with as many as 23 million renters at risk of losing their homes, and Black and Latinx households being hit disproportionately. The CARES Act, which included a temporary eviction moratorium, stopped protecting renters from eviction on July 31. This moratorium covered more than a quarter of all renters in the country. More than 26% of households have already missed a rent or mortgage payment and have no idea if they will be able to pay their next housing payment on time. Given the fact that the next stimulus bill is currently stalled in Congress, there is no sign that the federal government will be able to stave off an eviction crisis that puts tens of millions of households at risk of homelessness. Eviction causes a cascading series of related social issues, from mental and physical health risks to difficulty enrolling in school to disenfranchisement. In addition to the social costs, the actual costs to the economy are staggering: For the worst-case scenario of 23 million evictions, experts have estimated a nationwide one-year cost of $128.7 billion. Being able to maintain adequate housing is a staple of financial security and financial health, so the effects of this crisis have the potential to be catastrophic.
SpringFour Recognizes the Need and is Working to Help
SpringFour and our Resource Integrity Team have been hard at work to figure out how we can use our expertise to help households in this dire situation. Since the onset of the COVID-19 pandemic, SpringFour has seen a sharp increase in usage of our Rental Resource Category. The Team has added more than 3,000 resources to address financial challenges since the pandemic began. The rental resource category is now consistently in the top five of all categories referred through SpringFour. In fact, we have seen a 48% increase in rental resource referrals in S4Pro since February 2020. SpringFour has provided over 92,000 referrals to households needing assistance with rental resources since the onset of the pandemic.
Going even further, SpringFour’s data team developed a tenant tip sheet to help end users struggling to maintain adequate housing. This tip sheet, released on July 15th, was referred over 2,200 times in the first 3 weeks. It provides essential information on tenant rights and responsibilities under the CARES Act, provides links to local and state eviction moratoriums, and provides links to tenant advocacy organizations and rental resources available through SpringFour. Tip sheets like these go above and beyond SpringFour’s usual offerings and instead compile tips and resources that can help renters navigate their way through this crisis. Efforts to provide additional rental resources and create the tip sheet showcase the expertise of our incredible Resource Integrity Team, including Kate McCarthy, an experienced housing professional, and Jessica Williams, a talented systems management and operations guru.
For questions on the tenant tip sheet or if you have ideas for additional tip sheets, contact email@example.com.
Rochelle Nawrocki Gorey
Co-Founder & CEO, SpringFour