More than 50% of landlords with vacancies are willing to put the house on the market, indicating that the landlord has restored confidence in the rental market
[The Epoch Times, June 8, 2021](The Epoch Times reporter Ping Shi New York reported) The 800-member Poagny.com organization published its latest survey in May. It was found that for the first time, more than half of those landlords with vacancies were willing to put their houses on the market for rent; the rent arrears rate last month was 46%, which was stable in the nine months since the investigation began. The 8th month on the level.
At the same time, in the survey conducted from June 1st to 3rd, there was a synchronous relationship between the “rent arrears rate” and the “planned vacancy rate”, that is, if the former is high, the latter is high, and the former is low and the latter is low. Relationship.
“This shows that the landlords have adjusted their expectations.” He Delin, the president of the “Little Landlord in New York”, told this newspaper that there used to be a big gap between the rent arrears rate and whether the landlord wants to rent out the house. For example, sometimes even if the arrears rate is very high. Low, landlords don’t like renting. “Now it seems that they have finally figured it out and finally have a relationship between the two. This is reasonable: that is, the landlord is willing to let out if the delinquency rate is low; if the delinquency rate is high, they would rather rent the room than rent out.”
And more than 50% of landlords with vacancies are willing to put the house on the market, which also shows that “the landlord has confidence in the rental market.”
In addition, last month’s rent survey also gave people a surprising result. In recent months, tenants who paid rent by automatic transfer showed a greater tendency to default; while tenants who paid rent in cash showed a greater tendency to default. There is a tendency to be less delinquent-this is the opposite of traditional ideas.
“This is because tenants who automatically pay rent are more educated and have better English, and they know more about some legal loopholes that can be exploited, such as closing orders, so I think this part of the arrears is intentional, not because they don’t have a job. It’s the saying, “a literate hooligan” is also.”
He Delin said that in the past, he always persuaded landlords not to accept the rent paid in cash, because the tenants may be mostly low-level laborers, and the traditional concept believes that their rent payment is unreliable. However, in the past few months, he has found that the relationship between cash payments and rent arrears is getting weaker and weaker until now it has been completely reversed.
“Currently, the delinquency rate of cash payment is lower than that of automatically paid tenants.” He Delin said, “I think the decline in the delinquency rate of cash payment tenants is because they all have jobs and the unemployment rate has fallen.”
In order to allow landlords to avoid risks in the new rental market environment, the “New York Small Landlord” organization will hold two lectures in the coming week. Landlord readers can follow the news on the organization’s website Poagny.com. ◇
Editor in charge: Li Yue
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