Concerns loom as federal subsidies scheduled to end
The Mercury News (June 11, 2020) -- High unemployment, coronavirus worries and social upheaval have done little to prevent Bay Area residents from paying their rent.
Roughly 9 in 10 tenants in the Bay Area made at least some payment by the first week of June, according to a survey released Tuesday by real estate data firm RealPage. The payment rate fell from the previous year in the East Bay (down 1.8 percent), Santa Clara County (down 3.5 percent) and San Francisco and San Mateo County (down 4.8 percent).
Real estate professionals attribute the strong June performance to stimulus checks, enhanced unemployment benefits and tenants prioritizing their rents. “The results continue to be good, with some little tiny fraying at the edges,” said Doug Bibby, president of the National Multifamily Housing Council.
Read more at: The Mercury News