Small landlords dip into savings as their tenants struggle to pay rent
More renters are unable to make their monthly payments, and that is having an outsized impact on the nation’s “mom and pop” landlords.

Nearly a third of renters who live in single-family or small multifamily properties owned by individual landlords were unable to pay their August rent, according to a survey by Avail, a technology and marketing platform for small landlords. That is up from just under 25% in July. Avail received responses from 2,225 landlords and almost 3,000 renters.

Key Points

  •     More renters are unable to make their monthly payments, and that is having an outsized impact on the nation’s “mom and pop” landlords.

  •     Nearly a third of renters who live in single-family or small multifamily properties owned by individual landlords were unable to pay their August rent, according to a survey.

  •     Individual landlords make up the majority of single-family rental owners. Close to 23 million units in 17 million properties are owned by individual investors, according to the most recent count by the U.S. Census Bureau.
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RSK: Everyone must work together on this, including financial institutions.

Ken Notes: We should have called an economic time out and assessed the damage after Covid and worked to fix it. Instead we tossed three trillion into the storm and now have no solutions.



- - Volume: 8 - WEEK: 36 Date: 9/1/2020 8:10:54 AM -