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Updates

Billions in Coronavirus Aid Is Slow to Reach Renters & Landlords

BY  ON APRIL 22, 2021

Throughout the pandemic, National REIA has done its best to encourage housing providers to work with their tenants and share resources – especially the Emergency Rental Assistance Program. However, a recent article in The Wall Street Journal said that billions in Covid-19 aid has been slow to reach renters and landlords because state and local agencies disbursing federal rent relief have never had to allocate such huge sums so quickly. Click here to read more.

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CFPB Rule Says Tenants Can Hold Debt Collectors Accountable for Illegal Evictions

BY  ON APRIL 22, 2021

The Consumer Financial Protection Bureau (CFPB) recently issued an interim final rule requiring debt collectors to provide written notice to tenants of their rights under the CDC’s eviction moratorium and prohibits debt collectors from misrepresenting tenants’ eligibility for protection from eviction under the moratorium. The new rule goes into effect on May 3rd and lasts through the duration of the CDC’s moratorium, recently extended through June 30, 2021. Click here to read more.

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Home Builder Confidence Remains Strong

BY  ON APRIL 20, 2021

According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), home builder confidence came in at 83 points in April, despite strong buyer traffic and tight supply chains. Any number over 50 indicates that more builders view conditions as good rather than poor. Click here to read more.

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Top Metros for Net Inbound & Outbound Moves

BY  ON APRIL 19, 2021

Zillow says the pandemic brought changes that make people more likely to move. They say that the pandemic has upended the meaning of home and prompted many of people to rethink how and where they want to live. In their 2021Mover Report, they point out that more than 1 in 10 Americans (11%) say they have already moved in the past year. Click here to read more.

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Top Destination Cities for Renters

BY  ON APRIL 15, 2021

A recent report from STORAGECafé says more renters moved in 2020 vs. 2019, with most of those upgrading to larger homes.  Interestingly, they point out that 69% of renters looked for housing in the same state while the remaining 31% sought a new home in another state.  Click here to read more

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Millennials Continue to Dominate Home Buying Market

BY  ON APRIL 13, 2021

According to the National Association of Realtor’s 2021 Home Buyers and Sellers Generational Trends report, millennials continue to make up the largest share of homebuyers coming in at 37%.  Click here to read more

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Best Counties for Buying Single-Family Rentals

BY  ON APRIL 13, 2021

According to data from ATTOM’s Q1 2021 Single Family Rental Market report, the average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 495 counties is 7.7% for 2021.  Click here to read more.

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Big Firms are Crowding the Market for Houses and Driving Up Prices

BY Ryan Dezember ON Apr 5, 2021

The Wall Street Journal recently wrote about how so-called big firms are crowding out the market for houses and in the process, driving up prices.  They report that it runs the gamut from individuals with smartphones and a few thousand bucks to pensions & private-equity firms with billions, yield-chasing investors are snapping up single-family houses to rent out or flip.  Click here to read more.

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CFPB Wants to Prevent Foreclosures Until End of the Year

A new rule proposed by the Consumer Financial Protection Bureau (CFPB)  seeks to prevent a wave of foreclosures as some pandemic protections for homeowners are set to expire.  According to CNBC, the rule, which would apply to all mortgages federal & private, will prevent mortgage servicers from initiating a foreclosure against delinquent borrowers through December 31, 2021.  The CFPB says 1.7 million borrowers could be at risk of foreclosure when the forbearance program ends in September and this number is higher than anything mortgage servicers have ever seen.  The proposed rule will still need final approval.  Stay tuned.

“CFPB’s approach to expediting and simplifying the recasting of loans for those in forbearance is not only a good move, it will be a critical move in helping to stabilize the housing industry, community housing values, and the short and long-term benefit of service providers as well as individual homeowners. In short this is a win all around for those who have felt the brunt of the Covid-19 pandemic’s economic fallout.”  Said Charles Tassell, COO of National REIA.

 Charles Tassell

Click here to read the full story at CNBC.com.

Click here to read the full release at the CFPB.

Click here to read the CFPB’s “Fast Facts: 2021 Mortgage Servicing COVID-19 Proposed Rule”

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Will You Be Ready When the Eviction Moratorium Ends?

On a recent episode of the Rent Perfect Podcast, David Pickron says the current tenant/landlord climate feels like a good old-fashioned game of musical chairs. As housing providers anticipate the end of the CDC’s eviction moratorium, it’s critical for landlords to know and prepare for what’s next.  Pickron and his guest discuss the three types of current tenants and how to work with each distinct group to protect your asset and your bottom line.

Click here to listen on Spotify.com.

Rent Perfect is the solution rental property owners & managers have been crying out for! Their Online Lease Agreement allows you to send your tenant(s) a customized lease agreement, electronically & securely. They offer the most accurate & thorough credit & background screening available. Members of National REIA receive a discounted set up fee.

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