By PadMint Pro

June rent collections come in very similar to previous month

June numbers appear to be at 80.1% collected compared to 80.2% collected from last month. Things appear to appear strong when considering what we thought this could've turned into.

These numbers exclude subsidized units, single-family rentals, student housing, and privatized military housing.  

For the time being, rent collections are in somewhat of a holding pattern, which is enhanced by employment benefits and one-time relief payments as part of the CARES Act.  Although owners are happy with these numbers at the moment, things could shift as things get back to normal.  With unemployment so high and forbearance to eventually run out of time it could begin to add the "distress" investors have been waiting for.  

We have seen activity pick up here in Los Angeles as far as active listings go.  There were 104 new multifamily listings in Los Angeles County last week (2 units and above).