Breaking on the morning of November 9, 2020, was news from U.S. pharmaceutical giant Pfizer and partner BioNTech, that a potential Covid-19 vaccine breakthrough had been developed!
Their vaccine candidate BNT162b2 was shown through a trial with approximately 44,000 participants, to be more than 90 percent effective at preventing infection and with “no serious safety concerns having been observed’.
Phenomenal global news, no doubt, with the stock market exploding higher at the open as stock investors and non-investors alike cheered the news.
But The Covid-19 Quandary Persists!
Despite this great medical news, many tenants whether commercial or residential are not cheering. They continue to hurt financially as businesses have been closed, jobs have been lost and/or employees have been ‘temporarily’ furloughed.
And while the Covid-19 pandemic has been devastating for many who pay rent, it has been equally devastating for those landlords who have bills due and no revenue coming in with which to pay them.
Many Americans view landlords and building owners as ‘fat-cats’ who have profited for years with too high rents, and who now can wait until the crisis passes to receive some or part of the money they are due.
The reality, however, is that a 2016 statistic indicated that close to 75% of rental properties in the United States were owned by individual investors, people who ‘are more likely to own single-family and duplex rental homes. They are often described as “mom and pop” landlords’ (Source).
Thoughts of a Small Landlord
The Brooklyn landlord in the video below tells his story of bills coming due and tenants not paying their rent. It is a story likely being repeated in every town across the United States, with financial ramifications that may be swift and hard.
It’s another example, as with most everything in life, that there are two sides to every story!
Do you have any thoughts or comments?
Please contact Hallmark Abstract Service CEO Mike Haltman at (646) 741-6101 or firstname.lastname@example.org.