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San Diego Apartment Owners Face Extended Eviction Moratorium
June 30th, 2020 5:53 PM
Many apartment and commercial property owners have been waiting to learn if the eviction moratorium will be lifted. Today the City of San Diego approved an extension of this moratorium until the end of September of 2020. Our local NBC news has reported on this here:
San Diego Apartment Moratorium
Our office has been tracking and analyzing apartment rents and to date has yet to see significant discounting of apartment rents in most parts of the County. Some units appear to be having longer marketing times. This is happening because tenants are less likely to move and landlords are being very cautious about tenant screening at this time.
We have reviewed at least one national forecast that is projecting a 10% decline in rents by the end of 2020. The SDSU college area and El Cajon appear to have been the most impacted so far, with students gone there is a higher inventory of one-bedroom units available.
Posted in:
General
and tagged:
Apartments
Posted by Jennifer L. Chandos on June 30th, 2020 5:53 PM
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