State and local governments that continue to allow renters in this pandemic era to delay payments are raising concerns among property owners and managers.
Their looming question: If tenants don’t pay their rent to the landlords, how will property owners pay their mortgages?
Some have already answered that question — by selling off properties.
Keith Becker, general manager for DeDe’s Rentals and Property Management of Santa Rosa, said that of 500 tenants Becker’s company rents to, four have stopped paying, negotiating and communicating. Eleven renters are attempting to pay but have fallen short.
The loss of tenant income has resulted in 12 units leaving the rental market. Eight units are on the market, and property owners plan to sell four.
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