The Impact Of The Pandemic On Landlords: Evidence From Two National Surveys
September 29, 2021 by Two national surveys conducted in early 2021 highlight that many landlords, especially smaller-scale ones, faced significant rent shortfalls, with some collecting less than 50% of their usual rent. Landlords responded by offering concessions like waiving late fees and forgiving rent, but also by deferring maintenance and missing payments on mortgages and utilities. The financial strain led to an increased interest in selling properties, particularly among those with severe rent arrears. The report underscores the uneven impact of the pandemic, with landlords in low-income and minority neighborhoods more likely to defer maintenance and pursue evictions. It calls for better outreach to landlords about rental assistance programs and suggests that more robust data collection on rental property finances and management practices is needed.