"We have mortgages that have to be paid, and I am not getting any rent. There is no eviction or prospects of new tenants...but we still have a mortgage to pay. Plus there are other expenses; at the end of the day. There is wear and tear on the property. And property taxes have to […]

"Insurance payments are getting higher and higher every year."

"One of my properties in the East End... I know developers are coming in and driving up prices, and they provide upgrades and all. I can’t keep up."

"The objective for the rent was to cover operating costs and property taxes so we did not have to use our savings."

If 60 percent or more of their tenants were paying rent, the small landlords we spoke to were able to cover expenses as they arose. However, they were worried about large bills, such as property taxes and high- ticket item repairs.

"We take a human approach and build a very strong relationship with our tenants. That’s our strategy. During COVID, we dropped off pizzas to them and backpacks for the kids. We are investing more to have food delivered to them. This ensures that they take that extra shift, pay their bills, keep up the properties, […]

"Before COVID, I was running a 30 percent margin. Now, I’m somewhere in the teens. Right away, I asked my lender for lower interest rates. But that will only save me a couple of thousands. Insurance, water, taxes, maintenance still come in. And given that my margins are shrinking, I’m focusing on increasing my revenue. […]

"This was our primary source of income, along with social security. But we were running through money too fast, so my husband returned to his job. And we are still running through money. We are now going through our IRA savings now. Our hope was that the rent from the properties would cover operating costs […]

"I’m 66 years old. The inspection officer told me to do $50k in upgrades. Doing the upgrades means talking to construction people, getting stuff fixed... during COVID-19. It’s stressful— emotionally, physically, mentally. And I fear for my safety because of COVID-19 and interacting with people."

"I have thought about selling my property already, but I don’t know. I don’t want to deal with the hassle of keeping up with tenants. It is more hassle than it is worth. It doesn’t feel like there is a lot of support. I will probably lose my investment."