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Eviction notices are being sent out in Sacramento as COVID back rent restrictions end, leading to temporary lower rent prices.
“On April 1 tenants were required to pay their rent again and if tenants did not pay their rent, landlords and property managers could start the eviction process,” said regional director of Pure Property Management Bob Thomas. On popular rental platforms such as Zillow, HotPads, and Trulia, Sacramento area rental listing prices are lower within the last few months, and hundreds of dollars less than Apartment List averages. Sacramento realty experts believe evictions coupled with renter income plateaus are the main factors driving rental property prices to decrease.
The Sacramento Sherriff’s Office has reportedly served 460 hard evictions in the first half of 2022, but according to their department, many of these evictions are from 2021, claiming the Sacramento courts are currently behind. The decrease in rental rates across Sacramento, according to experts, is temporary, as prices are estimated to increase as buildings inch closer to 100% occupancy once again now that pandemic numbers have decreased.