DS News

DS News December 2020

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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Page 97 of 100

96 The Big Finish Wrap your head around the market's leading indicators. SHARE OF LANDLORDS FEELING "INCREASED PRESSURE TO SELL"** By Income Level With a Mortgage Without a Mortgage <$50k 50.9% 39.6% $50k - $100k 43.0% 30.0% $100k - $150k 32.7% 26.4% >$150k 20.5% 18.8% WHY LANDLORDS DIDN'T RECEIVE FULL RENTAL INCOME* Tenants Didn't or Couldn't Pay in Full 77.7% Vacant Units 28.6% Offered Tenants a Discount 12.9% Offered Tenants a Rent Deferment 8.6% Not Sure 3.2% Other 3.0% *Avail October Landlord Survey, covering September 2020 data **Avail October Landlord Survey, covering September 2020 data SMALLER-SCALE PROPERTY INVESTORS FEEL MOUNTING FISCAL PRESSURE Smaller-scale landlords report feeling increasing pressure due to the COVID-19 pandemic and related forbearance plans and eviction moratoria. A co-study by Urban Institute and Avail, a platform that periodically surveys its landlords and tenants, showed 35.2% of the surveyed property owners did not receive 100% of rent payments for September, and 38.1% did not expect to receive full rent payments in October. "is percentage reflects a combination of three factors: vacancies, tenants who did not pay their full rent, and tenants who were offered a discount or rent deferment. Among landlords who said they did not receive full rental payment in September, more than three-quarters said it was because their tenant did not or could not pay full rent." Urban Institute research fellows Jung Hyun Choi and Laurie Goodman concluded that heading into 2021 landlords who own fewer than 10 properties feel mounting pressure to sell.

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