A leading brokerage services company has revised itsworst case scenario predictions for landlords trying to collectrent and renew leases in the wake of the COVID-19pandemic, finding that many of the firm's initial dire predictionshave not yet taken place.
However, the group also warned that landlords shouldstill expect significant headwinds through the rest of theyear.
On Friday, BTIG issued its Real Estate Industry Report Report focusing on apartments. Thereport said that it had initially been expecting landlords to see acumulative decline in revenues in the second and third quarters ofthe year to be between 13% and 19%. However, given better thanexpected numbers in April, those predictions were adjusteddownwards, with report saying the industry should expectto see a 7% to 12% cumulative decline in revenues.
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Max Mitchell
Max Mitchell is ALM's Regional Managing Editor for The Legal Intelligencer, New Jersey Law Journal, Delaware Business Court Insider and Delaware Law Weekly. Follow him on Twitter @MMitchellTLI. His email is [email protected].
