This as-told-to essay is based on a transcribed conversation with Julio Gonzalez, an East Coast landlord, about the US eviction moratorium.
I'm Julio Gonzalez, the CEO and founder of specialty tax engineering firm Engineered Tax Services. I also own 24 properties on the East Coast and have been a landlord for 20 years.
The Biden administration's latest eviction moratorium — which lasts through Oct. 3 and covers most US counties, including mine — has led to difficult conversations. Many of our tenants feel like they are in a dire situation.
Twenty of my properties are residential, and I currently have four tenants taking advantage of the federally mandated eviction moratorium. The moratoriums have led to a significant and negative impact in profitability — for me, it's been a 15% loss in profit. Residents not paying rent essentially leads to free living, while landlords still have to pay for taxes, utilities, and more.
It's just tough. My parents came to America from Cuba, and I grew up with nothing. I've worked hard to be successful, so I know what it's like to face challenges.