Research commissioned by Nevada Realtors says both landlords and tenants are suffering in the eviction moratorium but that the “mom and pop” landlords are being hit hardest.
“Mom and pop” landlords are defined as those with three or fewer rental properties. John Restrepo, owner of RCG Economics said his research indicates that 56 percent of those landlords are dealing with delinquent renters.
“So the impacts are pretty significant on these mom and pop landlords,” he said.
He said throughout the survey, the smaller landlords had to deal with greater disadvantages including higher vacancy rates, high rates of delinquent payments and more renegotiated leases.
The survey included 140 property owners representing nearly 22,000 residential units across the state.
“We know from experience that these state and federal eviction bans have been devastating to property owners,” said organization President Brad Squires, who is based in Gardnerville. He added that the individual property owners who depend on rental income to survive are the ones suffering the most.
He said the research indicates that many of these landlords may lose their properties. Those property owners with only a few units missed out on an average of $1,870 in rent per unit during the pandemic.
But surprisingly, Restrepo said, most landlords have continued to pay their property taxes during the moratorium minimizing the tax hit to the state.
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