News Ticker

COVID-19 News Round-up for January 8th

Credit: Gowling WLG

Economic News 

Landlords Have Options with Non-paying Tenants 

Multifamily landlords with non- or slow-paying tenants are exploring their options in the face of new Centers for Disease Control policies halting certain evictions. Among items they need to check are: Availability of other payment options, the availability of other payment sources, the option to apply existing security deposits to unpaid rent, relocation options, allowing leases to expire, and paying the tenant to vacate the property so it again becomes available to rent. (Source 

Multifamily Projects Can Still Find Financing 

Now that multifamily has regained momentum following the panic in the early stages of the pandemic, many lenders continue to provide construction financing for new projects in most markets. Even though more renters are facing difficulties with on-time payments, new renters are continuing to fill space as it becomes available. Despite a general willingness to make loans, lenders are taking a closer look at the opportunities than before the pandemic. (Source) 

Michael Pollack Discusses Retail 

The retail sector has been one of the hardest hit by the COVID-19 pandemic. CRE investor Michael Pollack recently shared his thoughts on the market, including efforts to separate the reality from the hype, the sector’s direction in the coming year, the need for patience and flexibility, and some reasons for optimism moving forward. (Source) 

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