Landlords Bailing, Selling off Properties
There is an article in Yahoo news, yes I know not the best news source, but I thought this one was interesting. Here is a quote:
Landlords who own between one and five single-family rentals make up 88% of the almost 15 million single-family rentals across the country. In light of the eviction bans put into place at the start of the pandemic, 11% of these landlords have sold off at least one property in their portfolios, and 12% have sold off their real estate holdings in their entirety.
Here is a link to the story:
Federal Eviction Ban Forced 12% of Landlords Out of Business | Millionacres
If that is accurate and 12% of the mom and pop folks sold off all their properties and 11% sold off at least one property, there will be an even bigger rental shortage.
Did anyone on here sell off during the eviction hold?
Most Popular Reply
Yes; landlords are selling in my area. And many of these are small time landlords. It's not so much because of the eviction moratorium (my county is still doing these) but rather because of the increased price of housing.
I'm starting to downsize my numbers but more so because of my age and the fact I lost my partner to cancer several years ago and management alone isn't so much fun anymore.
Gail