The Market Experts
There are many changes constantly happening due to the pandemic. No industry is immune from having to adapt at these times. Atlanta Commercial Real Estate That’s not a skate having to Pivot during this crisis. However the office advisors are constantly helping our clients make smart real estate decisions. It is best to have a broker like us on your side. The Office Advisors are Atlanta commercial real estate efficiency experts. Check out our website today to learn more about how we can help you. Constantly trying to wow our customers is what we live for. Furthermore, you should check out our Google Business listing. Read the reviews from customers and clients just like you. 404-594-3028
Now with an economic uncertainty pattern the Atlanta commercial real estate market is still moving forward. However the multifamily sector has seen many different ups and downs during this crisis. Recently our lawmakers are putting new regulations in place. These regulations are dealing with the eviction proceedings of renters. Furthermore there are many different concessions that are made about these proceedings. We will dive into a few of them.
Regulators are Making Changes
According to an article on marketwatch.com by Jacob Passy. He gives a brief overview about the new regulations. Currently the Regulators at the federal Housing Finance Agency are in acting regulations. They are to ensure tenants are being protected. They want to make sure that the renters know and understand what their rights are. As well as not having landlords taking advantage of renter’s. In order to stall evictions these regulations are being put in place.
However the regulations do not apply to all landlords. Mortgages as well as completely owned properties play a major part. So just because a landlord is evicting tenants does not mean that they will be in violation of these regulations.
Landlords Mortgage plays a large part
Currently one of the major determining factors is how a property is leveraged by the owner. If the current mortgage is being backed by Freddie Mac or Fannie Mae landlord has to follow the new regulations. These regulations include notifying their tenants about protections as well as giving them proper notice before eviction proceedings take place.
However just because the loan is backed by these agencies does not mean that the landlord is still required to follow these regulations. They only apply if the landlord is in a forbearance agreement with the lender. A forbearance agreement means that there is a grace period on paying the mortgage. In other cases a discounted rate is given. Landlords are not allowed to evict tenants or charge late fees on the basis of non-payment. If you are a landlord in this predicament contact the office advisors today. We will try to help you with all of your Atlanta Commercial Real Estate needs.
Protecting the Renters
Fannie Mae and Freddie Mac are also offering online tools for the tenants. They are creating new online portals as well as technology. All done to better inform renters about the rights. It is not just the requirement of the landlord to notify them but also upon the tenant. The notification should help renters in many different cases. However here in the Atlanta commercial real estate market is going to be interesting. Will to see how many are going to take advantage of this.
Furthermore educating the tenants here in the Atlanta commercial real estate market might be difficult. Making sure that these tenants know their rights sounds like a hard task to undertake. As well as the enforcing of unscrupulous landlords. The Atlanta commercial real estate market has many different lower income properties. Educating these renters is going to be a key source to protecting the rights. Furthermore the office advisors can help release you of your obligations to the property. The Atlanta commercial real estate market has many buyers looking for distressed properties. So if you own one of these assets give the office advisors a call.
Available Tools for Tenants
Now there are some online tools available for renters. Check out the Freddie Mae and Fannie Mac websites to find more.
Currently there are many concerns about the eviction amounts that might be to come. Due to the fact that there is currently a moratorium that is about to expire. This moratorium is on evictions due to the coronavirus pandemic. However President Trump has floated the idea of keeping the moratorium going. It is still yet to be said if it will happen and many landlords here in the Atlanta Commercial Real Estate area are waiting daily to hear.
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The Office Advisors is affiliated with Sellect Realty of Georgia.
