Efforts to cancel rent payments are hotly discussed at the moment with several drafted bills circulating at both the federal and state levels. However, don't expect these bills to move forward. An Allen Matkins attorney says that they do not pass legal muster.

Each drafted bill takes a different approach to rent cancelation. Some, provide funding to cover rent payments for qualifying renters. In those versions, the government would make a partial or full payment directly to the landlord. Other versions would cancel rent completely without compensation to landlords. According to Tony Natsis, chair of Allen Matkins' Global Real Estate Group, these more extreme versions could be considered an illegal reclamation of property by the government. "This is legislating owners out of existence. If you forgive rent totally, I think that it will come under attack under a number of legal theories. I don't think it is supportable," Natsis tells GlobeSt.com.

Natsis believes that rent cancelation bills are a long shot, saying, "I don't think that it will pass. I can't imagine it will pass at a national level, but it could pass at a state level." However, if they did manage to make it through, he expects the apartment market would quickly mobilize to push back, whether nationally or locally. "You are going to see a coalition of people bring a lawsuit [if those bills pass] immediately," he adds. "There will not be hesitation from national and regional organizations for apartment building owners."