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Eviction Risk of Rental Housing: Does It Matter How Your Landlord Finances the Property?
We show, using a stylized model, how the ﬁnancing choice of landlords can impact eviction decisions in rental markets. Since multifamily loans rely on timely cash ﬂows from tenants, strict underwriting factors can increase the chances that landlords are able to weather income shocks. Lender provided relief may create further leeway for landlords to work out a deal with tenants who default on rental payments. Using comprehensive data on nationwide evictions in the U.S. and performance records on multifamily mortgages, we conﬁrm predictions from our model by documenting a negative ...