Good news is my tenants paid this month. We will see what happens in May.
I had a property scheduled to be available April 1st. Was nervous about how long it would be available. It’s located in Rancho Bernardo (San Diego). I listed it for rent on Zillow one week prior. Interest was surprisingly strong. I had more than 40 people requesting to see it & 5 rental applications, sight unseen. I did an open house on 4/7 after cleaning & minor repairs. There was foot traffic much of the day, and I had three strong candidates by the end of the day. We executed a lease with the family we liked the most.
Common comments were that there wasn’t much inventory & anything nice got rented immediately.
For the sake of the economy, we have to begin getting back to work. More than 16 million unemployed in 3 weeks. The country can sustain a month or two, but small businesses will permanently close if longer.
My experience indicates the rental market is fine now. Those getting the stimulus check buys another month. If we are still here in June, the problems will get much worse.
