The Eviction Saga Continues for Landlords Hit by Covid Moratoriums

Apartment landlords are finally seeing positive revenue four years after Covid-related rent moratoriums, but the eviction saga continues. Landlords are able to replace non-paying tenants by evicting them, but the legal proceedings don't happen overnight. As you know, Covid triggered eviction moratoriums for tenants who weren't paying rent. That helped many people who lost jobs, got sick, or had other Covid-related issues. But the protections continued well past the end of the emergency. Although most of those moratoriums were canceled more than a year ago, some ended just months ago. According to BisNow, landlords are now slowly replacing tenants who don't pay their rent and are finally seeing revenue from those units. They reported during fourth-quarter earnings calls, that this sliver of revenue is helping multi-family focused REITs get back on their feet. This comes at an especially good time since many apartment landlords also face issues with higher costs from inflation and loan maturities that need to be refinanced at higher interest rates. As BisNow reports, "REITs eked out razor-thin margins over analysts' expectations" but it's enough to keep them afloat... ...That's it for this episode. You'll find a link to the BisNow report in the show notes at newsforinvestors.com. Sign up for a free RealWealth membership if you'd like to continue your real estate education. You'll also find opportunities for investing by logging into the investor portal. Again, it's free to be a member and take advantage of our market data. We appreciate you subscribing to this podcast also, if you haven't already. Links: 1 - https://www.bisnow.com/national/news/multifamily/multifamily-apartment-reit-2023-q4-earnings-bad-debt-new-supply-122946