Kentucky mom-and-pop landlords getting squeezed
Eviction moratorium, financially struggling tenants, uneven government assistance, and steady expenses take their toll on mom-and-pop landlords.
The January 2021 edition of the HousingIQ Survey of Kentucky REALTORS® asked the additional Market Pulse question: “Are individual rental property owners preferring to sell?” Administered between January 30, 2021, and February 4, 2021, the 265 responses represent over 2% of the Kentucky REALTORS® membership.
37% of Kentucky REALTORS® say individual rental property owners are starting to consider selling.
In the two largest housing markets of Louisville and Lexington, nearly two-out-of-five REALTORS® say mom-and-pop landlords are starting to consider selling.
In seven markets representing over 70% of the state, the proportion of Kentucky REALTORS® saying that individual rental property owners are starting to consider selling is larger than the statewide average. In Rural Kentucky and the non-metropolitan parts of Southern Kentucky, the stress on small landlords is lower.
For this analysis, responses were weighted using local association membership counts to get accurate statewide counts. Local market counts were derived based on the primary market served by the respondent REALTOR®. The analysis assumes that REALTOR® responses reflect local market conditions rather than global knowledge.