June 25, 2021,
We need our distractions, especially when we have monumental deadlines looming that can impact our financial life in a massive way.
Home foreclosures and rent moratoriums are like red eyed monsters, waiting on leashes, scratching and clawing, snarling and drooling, waiting to be unleashed like the hounds of hell to fall upon the vulnerable.
Especially the financially hurting.
As reported at the news leader cnbc.com, “More than 8 million Americans hadn’t paid last month’s rent, according to a Census Bureau survey conducted at the end of August. About 77% reported loss of employment income in their household. Meanwhile, about 14.5 million renters said they had no confidence or slight confidence in their ability to make next month’s payment, according to the Census Bureau.”
The economy is improving and the Covid restrictions are moderately lifting, but apparently not fast enough.
There are those in leadership positions trying to do something about the crisis.
The team at 10news.com reported on June 24, 2021, “State lawmakers are racing to finalize the largest rent forgiveness plan in U.S. history and negotiate an extension to California’s eviction moratorium, just days before it is set to expire.”
They add that Governor Gavin Newsom is proposing to forgive 100 percent of unpaid rent for low-income Californians who suffered financially during the pandemic. California currently allows tenants to apply to have 80 percent of their unpaid rent covered by the state.
It is expected that lawmakers should provide solutions to pressing societal problems.
It is an added bonus when a private industry group makes a decision to have a positive impact as well, going beyond the call of duty and profits.
Enter Veritas Investments.
Veritas investments is a real estate management company that specializes in operating mixed-use multifamily and retail properties in the greater San Francisco Bay Area.
With a wonderful mission like that, we desire a much closer look.
At their dynamic website veritasinvestments.com they educate, “Founded in 2007, Veritas manages mixed-use multifamily and retail properties in the San Francisco Bay Area on behalf of institutional and individual investors. Many of its properties are classic, distinctive apartment buildings located in some of San Francisco’s most storied neighborhoods.
Overall, Veritas works to enhance properties through focused strategy, a clear vision, and a deep understanding of each community landscape.”
The opening message on their home page is inspiring. They share, “After a year of challenges including lockdowns, social injustices and crimes of hate towards our neighbors, the San Francisco we adore is reopening in all its glory. It’s the perfect time to re-embrace the messages of love and equality that reverberate from one special, San Francisco summer in 1967 – and extend them to San Franciscans of all races, colors, and creeds in 2021.”
Sounds like a wonderful mission and plan. We wish them great success.
They have more to say. Please listen up.
Veritas Investments, One of San Francisco's Largest Property Managers, Announces Further Resident Relief Efforts to Help Keep People in their Homes
News provided by
Jun 22, 2021, 23:00 ET
SAN FRANCISCO, June 22, 2021 /PRNewswire/ -- 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.
About Veritas Investments
San Francisco-based Veritas, founded in 2007, is one of the largest managers of multifamily, urban retail and mixed-use properties in California. Veritas oversees assets in excess of $3.5 billion including more than 7,000 apartments and commercial retail space. Vertically integrated, the firm provides property management, leasing, project management, redevelopment, accounting, asset management, financing, and investment management services. For further information visit www.veritasinvestments.com.
SOURCE Veritas Investments Inc
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