To support the multifamily community through the current COVID-19 crisis, we’ve launched a series of discussions centered around its impact on the rental housing industry with the latest data, expert insights and actionable measures stakeholders can take to minimize fallout. You can register for upcoming webcasts and watch previous episodes on demand at the COVID-19: Resource Center. This is a condensed summary from the sixth webcast in the series, COVID-19: Impact on Remote and Outsourced Services, broadcast on April 2, with RealPage® VP and Deputy Chief Economist Jay Parsons, VP of Outsource Services Scott Holcomb, SVP of Spend Management Sara Jones, VP of Renter Engagement Nikhil Venkatesh, VP of On-Demand Learning Katie McCaslin and Senior Director Customer Success Management Nicole Levin.   Special guests included: Melissa Gill, SVP Accounting, Stonemark Management, and Erica Duda, Controller, Redwood Capital Group.   LATEST ECONOMIC UPDATE Everyone in the industry is focused on how much rent is paid this month with so many Americans out of work. A staggering 6.6 million unemployment claims were filed last week, and the Federal Reserve of St. Louis said it’s possible that up to 47 million people will lose their jobs, pushing the unemployment rate to 32%. Despite unprecedented job loss this year, recovery of most positions is expected in 2021. The $2 trillion stimulus package, called the CARES Act, will be providing additional monetary unemployment benefits and one-time cash payments to many Americans. The looming questions are not only when the stimulus funds will reach the hands of renters but—given the Act’s temporary protections against evictions and late fees—whether they will apply relief income to rent payments? We are watching those numbers closely and collaborating with the National Multifamily Housing Council to create an industry-wide tracking report on rent payments beginning this month. REMOTE TOO...

To support the multifamily community through the current COVID-19 crisis, we’ve launched a series of discussions centered around its impact on the rental housing industry with the latest data, expert insights and actionable measures stakeholders can take to minimize fallout. You can register for upcoming webcasts and watch previous episodes on demand at the COVID-19: Resource Center. This is a condensed summary from the sixth webcast in the series, COVID-19: Impact on Remote and Outsourced Services, broadcast on April 2, with RealPage® VP and Deputy Chief Economist Jay Parsons, VP of Outsource Services Scott Holcomb, SVP of Spend Management Sara Jones, VP of Renter Engagement Nikhil Venkatesh, VP of On-Demand Learning Katie McCaslin and Senior Director Customer Success Management Nicole Levin.   Special guests included: Melissa Gill, SVP Accounting, Stonemark Management, and Erica Duda, Controller, Redwood Capital Group.   LATEST ECONOMIC UPDATE Everyone in the industry is focused on how much rent is paid this month with so many Americans out of work. A staggering 6.6 million unemployment claims were filed last week, and the Federal Reserve of St. Louis said it’s possible that up to 47 million people will lose their jobs, pushing the unemployment rate to 32%. Despite unprecedented job loss this year, recovery of most positions is expected in 2021. The $2 trillion stimulus package, called the CARES Act, will be providing additional monetary unemployment benefits and one-time cash payments to many Americans. The looming questions are not only when the stimulus funds will reach the hands of renters but—given the Act’s temporary protections against evictions and late fees—whether they will apply relief income to rent payments? We are watching those numbers closely and collaborating with the National Multifamily Housing Council to create an industry-wide tracking report on rent payments beginning this month. REMOTE TOO...