True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Don’t sleep on non-QM products

Now is the perfect time for originators to consider expanding to non-QM products – to grow business, diversify their offerings and to ensure an opportunity to better serve their customers.

Real Estate

The impact of COVID-19 on small landlords: How to lower the risks

Will small landlords be able to internalize increasing expenses?

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Several times a month, the National Multifamily Housing Council (NMHC) releases data from its Rent Payment Tracker, a measure of the number of tenants who have paid rent that month. Its most recent update, issued on Aug. 24, found that 90% of apartment households had made a full or partial rent payment by Aug. 20. Great news, right?

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Robyn A. Friedman
HW+ Columnist

Maybe not. The percentage of tenants paying rent declined 2.1 percentage points year-over-year. It slid month-over-month as well.   

More importantly, the statistics come from a survey of 11.4 million professionally managed apartment units across the country. That means that small landlords – the mom-and-pop investors who own single-family homes for rent or perhaps a small apartment building – are not reflected in NMHC’s statistics. But it’s these landlords that are the most vulnerable to the economic impacts of COVID-19.

Why smaller landlords are at risk

Mom-and-pop investors are especially vulnerable if their tenants fail to pay rent. Many are undercapitalized and would be unable to pay their bills if a tenant became delinquent or vacated a unit.

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