For investors looking to underwrite apartment properties, the eviction moratoriums from The Centers for Disease Control and Prevention (CDC)  and local state governments are creating some uncertainties.

Essentially, investors will need to discount the value of the rent roll more than normal in some acquisitions. "For investors, it's just uncertain as to how you can bank on a rent roll or solidify numbers until this [eviction moratoriums] shake out," says Andrew Rosenberg, a partner at Cassin & Cassin LLP. "Investors will proceed, but they'll proceed more carefully, meaning they either have better reserves or they pay a higher rate."

While the moratoriums will hurt revenue, Rosenberg thinks most properties will be fine in the long term. So investors with longer time horizons will still benefit from owning apartments.

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Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to and Real Estate Forum.