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 Member Update
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JANUARY 2021 • WWW.AAGLA.ORG
SPENDING STIMULUS ON RENT:
HOW COVID-19 IS AFFECTING RENTAL HOUSING Recent Survey Illustrates the Challenges
RT
the virus are shaping both long-
enters are Facing
By Chase Harrington, President & Chief Operating Officer at Entrata
he impact of COVID-19 and our efforts at slowing the spread of
stimulus bill to help people cover expenses, and nearly 60 percent of renters used the full or partial amount of their $1,200 stimulus check to help pay rent.
The ever-widening impact of the pandemic had a massive, unprecedented impact on short- term housing plans for many people, as reflected in the study results. Nearly half (42%) of renters were forced to make quick, unanticipated changes, including renewing a current lease instead of buying a home (16%) and moving in with relatives or friends (7%).
Other people sought financial relief by moving to a cheaper apartment, as reported by 13% of total renters. Moving to a less-expensive place was reported in higher levels among respondents who were married or in a domestic partnership (20%) as compared to single renters (8%), likely due to job losses among couples who need both incomes to cover expenses.
PROPERTY OWNERS AND MANAGERS ON THE HUNT FOR LONGER-TERM SOLUTIONS
Although the challenges of mass unemployment hit renters first, the impact was inevitably felt by managers and operators of rental properties. Unsurprisingly, the majority of renters (58%) wanted
term and short-term plans for virtually everyone across the country. For the rental housing business, the uncertainty brought
on by the pandemic is altering plans, demanding new practices, and multiplying stress for everyone.
To help us gain a deeper understanding of the virus’ impact and better navigate a path forward, Entrata reached out to over 1,000 renters across the United States. The results, compiled in our report “Renting in a COVID-19 World,” provided a clear snapshot of the challenges facing the rental market and highlighted many of the leading efforts at responding to the problems.
RENTERS SCRAMBLE FOR RELIEF FROM THE PANDEMIC
As COVID-19 rapidly spread across the country, the most immediate challenges were faced by renters. Stay-at-home orders led to a wave of closing businesses and unemployment claims – millions of people who could not work from home or did not have a job that is deemed essential were jobless, virtually overnight. Congress quickly voted for a
 














































































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