Market Trends

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

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.

All told, 90% of renters made full or partial payments from April 1-12, 2019, compared with 91% of renters in March 1-12, 2020, according to the NMHC. That is a payment rate of 93% compared to the same time last month.

Fiscal Stimulus and Investor Considerations