Nearly half of multifamily mortgage debt outstanding is backed by the federal government and, thus, stands to benefit from the CARES Act and recent actions from the Federal Reserve.
More renters are canceling move-out plans and requesting short-term lease extensions, and property managers are offering unprecedented flexibility to accommodate them.
Federal Government Action Will Assist Renters in Maintaining Income; Strong Multifamily Fundamentals Pre-Coronavirus Provide Sturdy Framework
ANSWERING TOP QUESTIONS FROM REAL ESTATE INVESTORS – John Chang – Director Research Marcus & Millichap
In an effort to relieve pressure on 1031 timelines while much of the country is shut down and lenders are focused on processing thousands of loans initiated under the CARES Act, the IRS has temporarily altered the requirements to meet its standard.
Landlords who seek forbearance can’t evict tenants, charge late fees or issue negative credit reports for those who fail to pay rent.