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Hardship: Pandemic and Tired Landlords

6 Million Tenants Past Due on Rent

POSTED BY OUR SHORT SALE DIVISION: ATLAS HOME GROUP ON 

The pandemic has created a new kind of tired landlord in 2021. Historically tired landlords were property owners who had some good tenants yet had enough bad tenants which drove them to sell their properties. This week the Center of Disease Controls announced yet another extension to the eviction moratorium.

One in Four Tenants is Behind

It is estimated that of approximately 23 million rental units in the US, approximately 6 million renters are past due on their rent payments. With rents past due on nearly 1 in 4 units, landlords are unsure how they will recapture what is owed to them.

The truth is, it’s unlikely that they will.Post-pandemic landlords are a whole new kind of tired after over 12 months of eviction halts.This begs the question – has the pandemic caused a legitimate hardship for landlords? All signspoint to yes. We are currently seeing favorable results for homeowners who are underwater ontheir mortgages including those who are not occupying the properties such as landlords.

Who Will Buy My Property?

Investors are also buying properties at record numbers. Investors are motivated enough that weare seeing some buy properties with slow paying tenants. This could be a rarely seen perfecttiming for tired landlords begging for relief and investors looking to grow their portfolios.

Where do I go for Help?

If you’re a landlord who is ready to move on from your investment properties, you might need a short sale or a quick sale. Either way, reach out. You may now have a qualifying hardship. Talk with a team of agents experienced with helping sellers in distress. Our short sale division, Atlas Home Group, has over a decade of experience in this area. Please call us at 443- 660-8080 or message Teal Clise here on this site.

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Teal Clise

Teal is a 19-year real estate industry veteran with amazing real estate knowledge and a commitment to homeownership for all!

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