This week’s review of industry news provides both strategies and data points supporting the resiliency of the multifamily and SFR markets during COVID-19. In the first article, Trepp discusses how tenants continue to prioritize their rent liabilities. RealPage reports a rebounding of new lease signings in June for most major markets. Enterprise Community notes National Multifamily Housing Council (NMHC) data shows renters have paid rent over the last three months consistent with the same time timeframe last year. However, tenants’ abilities to cover housing costs have depended on federal assistance. An Arbor Chatter blog article describes how proactive investors are finding opportunities with the coronavirus accelerating demand for single-family-rental housing. Finally, NMHC explains how eviction moratoriums increase the affordable housing shortage. The organization also breaks down how rental income is not merely for owner and investor profits but also covers mortgages, payroll and taxes. 

COVID-19 Affects Multifamily; Sector Remains Resilient

Trepp – July 21

“Most property owners remain able to keep their mortgages current, as delinquency rates have remained low. On the CMBS front, the multifamily delinquency rate increased to 3.25% in May from 1.92% in April.”

Lease Signings Up in Most Major Apartment Markets in June

RealPage – July 20

“In most major apartment markets, new lease signings were higher this June compared to last, an encouraging sign after a severe drop off in activity early in the COVID-19 pandemic.”

What Happens When You Give Renters Money? They Spend It on Housing

Enterprise Community Partners – July 20

“Renters in large professionally managed apartment properties making at least partial rent payments has been consistent over the last three months with the same time frame a year ago.”

Why SFR Build-to-Rent Is a Good Investment During COVID-19

Arbor Chatter – July 21

“Instead of adhering to defensive measures with today’s economic uncertainties, proactive investors are finding a window of opportunities.”

Extended Eviction Moratoriums Fact Sheet

NMHC – July 23

“A long-term moratorium does nothing to address a renter’s underlying financial distress and would have damaging consequences to the housing market as a whole.”