Apartment Owners Struggle to Pay Loans as Rent Stops Coming In, Winston Rowe and Associates
With renters struggling to make monthly payments due to the economic impact of the coronavirus pandemic, apartment owners are feeling the squeeze.
By: Winston Rowe and Associates
Building income for some has been insufficient to cover bank loan payments due to the federal eviction moratorium and tenants not paying rent.
Developers of new apartment buildings are even more vulnerable since they must fill units as many renters are choosing to leave the city to buy homes in the suburbs or look for apartments in lower cost of living places.
Some real estate industry experts believe apartment owners are better positioned to survive this recession than the last one, largely due to their relatively low levels of debt. In addition, many experts say banks might be less willing to foreclose on delinquent apartment owners than owners of retail properties due to the belief that apartments are good long-term investments, while brick and mortar stores are outdated.
Winston Rowe and Associates prepared this article, a national firm that specialized in sourcing debt and equity financing for the purchase, refinance and development of apartment buildings. They extensive contacts in the capital markets that include hedge funds, private equity, national, regional banks and more.
Apartment building investors looking for more information about Winston Rowe and Associate can review them online at https://www.winstonrowe.com
Winston Rowe and Associates