San Francisco-based Veritas Investments, one of the largest managers of apartment homes in San Francisco, announced today it is voluntarily extending to Dec. 31, 2021 a moratorium on evictions to assist residents facing financial hardship caused by the COVID-19 pandemic. State and local moratoriums are currently set to expire June 30, 2021.
“Veritas is committed to keeping residents safely housed during this unprecedented crisis,” said Jeff Jerden, Veritas’ COO. “No resident in any Veritas-managed property will be evicted because they owe back-rent due to COVID-19 if they meet the definition of financial hardship laid out in the state’s SB 91 legislation. We’ve heard from our residents and the upcoming end to the state’s eviction moratorium coupled with the slow release of rent-relief funds is of great concern to them. Through face-to-face discussions, as well as thorough and repeated outreach with our Veritas residents, we’ve urged everyone to apply.”
Veritas had announced in March 2020 that it was instituting the nation’s first eviction moratorium, prior to legislation by the City of San Francisco that later brought all landlords and property managers under similar guidance.
With the since-instituted local and state moratoria set to expire this June 30, Veritas has been urging residents to be proactive in applying for rent relief that they are entitled to, even as local and state officials have recognized a disconnect in getting financial relief to recipients.
As reported by the Associated Press, “California has been slow to distribute funds,” having received $490 million in rental aid requests through May 31, with only $32 million paid out. Just over 2% of people in California who have applied for rent relief during the pandemic have received it, whereas the state has accrued $5.2 billion from federal aid packages to assist those whose COVID-19 related economic hardships prevented them from paying rent. “It should be enough to get the job done,” Jason Elliott, senior counselor to Gov. Gavin Newsom, told AP. “The move would fulfill a promise to landlords to help them to break even, while giving renters relief,” according to AP.
Veritas has already provided millions of dollars in rent-relief support for its residents to date, working with those that ask for assistance as well as contacting them directly.
“We will also continue to support San Francisco residents through the wide variety of programs that Veritas currently participates in or has initiated itself, including its Open Doors Program that provides temporary, furnished apartments at no cost to victims of domestic violence, wildfire survivors and cancer patients; the Home Bridge Program that helps families find relief during times of crisis, emergency or unforeseen circumstances through partnerships with Ronald McDonald House Charities and UCSF; and through our partnerships with Project Open Hand, HealthRight 360, Self-Help for the Elderly, and other programs,” added Jerden.