How 2020 Changed The Way Multifamily Owners And Developers Plan for 2021

How 2020 Changed The Way Multifamily Owners And Developers Plan For 2021.

After nine months of coronavirus-fueled unpredictability, the coming year and its promise of a vaccine are looking like the light at the end of the tunnel for many in commercial real estate.

But there is a big difference between seeing the end of the pandemic and reaching it, many working in Southern California multifamily said.

Though the sector has done fairly well through the pandemic, especially when compared to retail or hotel properties, the uncertainty that defined much of 2020 is exerting a big influence over decisions multifamily owners and developers are making for the coming year.

For some Southern California multifamily owners, a lot of the uncertainty comes from not knowing whether local eviction moratoriums will be extended or for how long. Though there are surveys, trackers and data sets that offer estimates of how many tenants are paying rent — and usually find above 90% collections — there are no definite numbers.

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By Bianca Barragán, Bisnow Southern California

Original Article: https://www.bisnow.com/los-angeles/news/multifamily/multifamily-2021-planning-development-107054