Hello, and welcome to the Goodcover Monthly Roundup for June 2022.
Each month we recap stories that we think could impact renters in the United States. Stay up-to-date with news for tenants and discover how Goodcover helps modern renters plan ahead for life’s surprises. To read our previous recaps, tap here.
Before we begin, a quick announcement: Goodcover has launched in Texas, Arizona, and Nevada! In addition to our home state of California, we are now bringing our affordable, modern renters insurance to one-third of U.S. renters as a result of this expansion. We hope you’ll share the news with any renters you know in these states.
Now, here's the news that caught our attention this month:
The Rent is Too Damn High: Just like last month and the months before that, we’re hearing more stories about the housing market squeeze. Mortgage rates are high, zoning laws prevent multi-family units from being built in many areas of the country, housing is scarce, and many residents across the country are turning towards renting. Such high demand for housing has created astronomical asking prices for rent, leading established renters to participate in bidding wars.
And if You’re Behind on Rent, You’re Not Alone: Just last week, Bloomberg reported that 15% of Americans are late on their rent, with Americans aged 40-54 and in prime earning years struggling at higher rates. Given inflation, rents are expected to rise more throughout the summer. If you’re a renter, it’s a good idea to familiarize yourself with tenant rights in your state, especially if you’re facing economic hardship. And if you’re in California, Goodcover’s guide to preparing for your next rent increase might prove helpful as well.
Should Tenants Have a Right to Air Conditioning? Climate change is real and this month, The New York Times published a story about how these summer heatwaves lead to physical problems such as heatstroke or liver failure but are also correlated with increased crime, anxiety, and depression worldwide. This month, Marketplace made the case for a tenant’s right to air conditioner and we’re fans of the idea (no pun intended). After all, access to heat is already required for the winter months, and these extreme summer temperatures show no signs of cooling down.
Good Move, Arizona: This month, Arizona signed into law that settled eviction court cases will be sealed from your credit, providing a helpful break for renters who got behind during the pandemic or relied on pandemic relief to help settle their eviction cases. This comes just months after the state dropped the $18 response fee required by tenants to respond to landlords in eviction court. Both of these laws can help the most vulnerable renters; it’s our hope that more states begin to rethink old practices and make the necessary changes to serve tenants in their communities.
That's a wrap on Goodcover’s Monthly Recap!
If you like this series, be sure to check out more posts on the Goodcover blog. From moving checklists, to commonly asked questions about working from home, to tips for navigating insurance inflation, we share new information every week with the goal of helping you become a more informed renter.
Did we miss anything? Follow us on Twitter and let us know. Thanks for reading, and have a safe holiday weekend.
-The Goodcover Team
Note: This post is meant for informational purposes, insurance regulation and coverage specifics vary by location and person. Check your policy for exact coverage information.
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