Unpaid rent due to COVID-19 could be up to $32.7M per month

Joshua Sabatini

Oct. 26, 2020 6:00 p.m.

A new city report that attempts to quantify how much rent has gone unpaid due to the impacts of COVID-19 estimates it could be as much as $32.7 million a month. There are  data limitations, but the report drew from a number of sources estimating the number of renters behind on rent and unemployment figures and made several assumptions, which explains the wide ranging estimates. “Our resulting estimates of unpaid rent between April and September 2020 range from $13.6 million to $32.7 million per month,” said an advance copy of the report scheduled for official release Tuesday.

The report was done at the request of Supervisor Dean Preston and comes as the Board of Supervisors is voting Tuesday on his legislation that would create a COVID-19 Rent Resolution and Relief Fund, which would provide revenue to landlords who forgive back rent.

Revenue for the fund is contingent upon the passage of Proposition I, before voters on Nov. 3, which would increase the tax on the sale of properties valued at $10 million or more.

https://www.sfexaminer.com/news/report-unpaid-rent-due-to-covid-19-could-be-up-to-32-7m-per-month/