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Pandemic Leads to Increase in Nonpayment of Rents - The Oregonian

June 25, 2020

The Oregonian/OregonLive reported on data released by HFO in a story posted late Thursday. The data, obtained through a survey of more than 74,000 apartment units in the Portland metro area by Multifamly NW, indicates that nonpayment of rent climbed from 12% in May to 15.4% in June.

Statewide, the number of renters failing to make full rent payments increased from 11.8% to 15.1%.

The story also considered that while tenants were winning with an increase in incentives, they may lose gyms as amenities. Additional changes to building design and apartment amenities were included, as well. 

High unemployment amounts to vacancies, especially one-bedroom units, said Portland-based HFO broker Greg Frick, who has specialized in multifamily investment sales in Oregon and Southwest Washington for three decades.

“Will we look back in five years and try to remember the common workout room and the push toward better WiFi as more people started to work at home?” he said. “The changes will be interesting to see.”

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