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May 25, 2020

What’s New in Property Management?

Whether technology, politics or the Covid 19 threat, landlords and property managers need to keep on the trends and late breaking news. We thought this post, updated frequently would be the one post you’d want to bookmark and share with others.

It’s an exciting time for landlords and those equipped with the best property management software will have an extra advantage.

It could be the new investment, technology, efficiency, and competition could be changing the culture of property management and the housing market this year.

The Latest News Stories:

If renters skipped in May, how will June rent payment defaults look?

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Renters prepare for tough choices as eviction proceedings resume in Texas.

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Landlord group fights back against unjust legislation. A Union City, New Jersey landlord group has filed a lawsuit to overturn new city laws freezing rent increases and halting evictions.

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Short term rental market hit with shutdown forces owners to list their properties. They’re flooding onto the market.

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The Cancel Rent Movement

Landlords are concerned many of their tenants are receiving sufficient funds to pay their rent, but are taking advantage of the moratorium laws to avoid paying their rent.  The Atlantic covers the Cancel the Rent movement and what it might mean for tenants and landlords.

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Business Reopens in America

Business is restarting at different rates across the country. See where your state is in the relaunch process.

NMHC Finds 87% of Multifamily Renters Paid their May Rent

In stark contrast to some reports of high rent delays or defaults is the National Multihousing Council’s report that 87% of renters actually paid their May rent. That was up 2.2% from April, 2020.

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Is Corona Virus Going to Kill the Rental Housing Market Too?

Mercury News reports housing construction in California is taking a hit during this recession.

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Fox Reports new leases in Manhattan dropped 71% Year over Year in April

Fox News also reports that Brooklyn rental leases declined 67%, with inventory of apartment rentals down nearly 30%, while northwest Queens saw a 65% decline, with inventory down nearly 30%.  NYC’s home vacancy rate increased to 2.42% last month

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Rent Moratorium Laws likely to lead to Slum Conditions

Former Sen. Al D’Amato, R-N.Y speaking in Fox News report says landlords not receiving rent will not likely service, repair or renovate under current situation.

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New California State Government Proposal Offers Tax Break for Landlords and for early tax payment

New housing proposals from the California government would allow landlords to receive tax credits for rent payments missed by their tenants, in exchange for promising to halt evictions. Part of the program also allows landlords, businesses and investors to pay their tax bills early.

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Corona Virus testing success is Approved by Wall Street Investors

One vaccine company says their phase one Vaccine test has gone well. Dow jumps 800 on the news.

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 Could Small Property Owners and as well as Renters  “slide down the socioeconomic scale together?”

Small business landlords face huge threat from large investment companies

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Some Landlords Requiring Tenants to get PPP Relief Payments

According to Globest.com, landlords are requiring tenants apply for PPP loans to receive rent relief.

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