The New York Times has shared the inspiring story of humanity, about how Mario Salerno, who has 18 apartment buildings, say he did not want renters to stress about their payment during the coronavirus pandemic.
It all started when he put notices on his property saying that because of the coronavirus pandemic, which has brought life to a near standstill in New York City and caused an untold number of people to lose their jobs, tenants in the building did not need to pay April rent,
“STAY SAFE, HELP YOUR NEIGHBORS & WASH YOUR HANDS!!!” the landlord, Mario Salerno, wrote on the signs, which he posted at all of his 18 residential buildings in the borough.
Across New York City, landlords have started to panic as well, as it has become clear some tenants are unable to afford rent. Several surveys conducted last month estimated that 40 percent of renters in New York City, if not more, would not make April rent, which was due on Wednesday.
The trickle-down effect could be swift and devastating, according to landlords, leaving them scrambling to find ways to pay their own bills, such as water, sewer and taxes at their buildings.
“It is too soon to get an accurate gauge of how many renters withheld their April rent and what the fallout would be for landlords,” says New York Times reporter, Matthew Haag.