COVID-19 has caused an economic fallout that no one could have properly prepared for. Due to this pandemic, Landlords are trying their best to accommodate their tenants who have lost their jobs. Many Landlords focus on providing a month-to-month rental agreement. They feel like this also lowers the risk of contracting the virus.
Experts believe that once the pandemic is over, the real estate market will quickly rise again. Although cities like Orlando, Las Vegas and even New Orleans may struggle as they heavily depend on tourists. The top performing rental property types are single and multi-family housing, mobile homes, and senior housing. Right now, mobile houses and self-storage, are two of the bright spots of the real estate world.
In the end, all companies, cities, families, etc are ready for this pandemic to be over. The simple things such as going to the mall, or park, have been stripped away. This may become a new norm. As a people, we will have to wait it out and see. If you are a Real Estate Investor and need further legal assistance, contact Martin Law Group. We our offering free consultations for the month June.