As April leaves and May greets us, we are seeing a huge decrease in new lease signings around the country. With a lot of counties and states extending the re-open date to June, are we going to see an even bigger dip in new lease signings?
How can we care for our tenants while staying in business as a landlord?
These are just some questions that may come to mind that you can bring up for discussion at our Landlord Support Group meetings, with the most recent this Thursday, May 14th from 9 AM to 10 AM.
With over 17 million people unemployed during this time, it is making a lot of sense why we are seeing such a decrease in new leases being signed. We are seeing more and more people not being able to pay rent. A survey from the National Multifamily Housing Council shows that around 31% of renters couldn’t pay their rent by April 1st . The council is only expecting the numbers to be worse for the rent due on May 1st . Over 13.4 million housing units were surveyed to collect this data.
Everyone seems to be struggling during this time, some more than others. If you’re a landlord and need advice, guidance, or even just someone to talk to about your experience come to one of our online Landlord Support Group meetings. You’re not in this alone and we can help each other navigate through this! Knowledge is power, and staying up-to-date with real estate laws and regulations in your area is crucial.
We hope to see you there!
Resources:
https://www.architecturaldigest.com/story/covid-rent-in-new-york-and-elsewhere
Register for ALL meetings on the calendar:
1) register for the meeting on FFREIA
you will receive an email with a link to Zoom registration
2) register for the meeting on Zoom
you will receive an email with a direct link to the Zoom meeting
https://www.ffreia.com/Calendar.aspx