Los Angeles

A new report from LeaseLock shows April rent payments were only down 5% to 10% in April compared to the first three months of the year.

Some landlords are sympathetic, while others are taking a tougher approach, even for local tenants that have lost income.

The new rules effectively prohibit evictions in the state by preventing the courts from issuing a summons.

With different lease provisions and new ordinances, rent relief will require a more tailored approach than a one-size-fits-all solution.

Also, on Monday, California Gov. Gavin Newsom, Oregon Gov. Kate Brown and Washington Gov. Jay Inslee announced an agreement on a shared vision for reopening their economies and controlling COVID-19 into the future.

Once the dust settles, we will continue to have a housing shortage across the country and a need for alternative living options.

Highland Realty Capital procured a $22 million construction take-out bridge loan to fund the lease-up and stabilization of Scotia Apartments in San Jose, along with three other loans for a total of $61 million.

The PPP loans in the CARES Act will help to provide liquidity to the market, but more is needed to fulfill all business needs.