Eviction moratoriums costly to landlords, Nevada economy, study finds

State and national eviction moratoriums person been a lifeline for cash-strapped Nevadans but a survey released Thursday finds the protections person battered Nevada’s system and its landlords.

The economical enactment generated by the state’s residential rental manufacture dropped 9 percent, oregon $511 million, successful 2020 compared to 2019, according to a study by RCG Economics for Nevada Realtors and Nevada State Apartment Association. And based connected mislaid wages and economical output, the eviction prohibition outgo Nevada a projected $12.6 cardinal successful mislaid income and usage taxation gross past year.

“This probe helps america enactment this harm into position from an economical constituent of view,” said NVR President Brad Spires. “It reinforces what we’ve been saying passim this pandemic astir the disproportionate harm these policies person had connected idiosyncratic spot owners who beryllium connected rental income to survive.”

The study besides recovered smaller landlords, those with up to 3 rental units, took the biggest fiscal hit, losing astir $1,870 per unit.

John Restrepo, laminitis of Las Vegas-based RCG Economics, said “it was truly striking to america however overmuch much they were affected by the moratorium.”

Meanwhile, landlords with much than 30 units missed astir $350 successful gross per unit. On average, landlords mislaid astir $422 per portion betwixt March 2020 and February 2021.

The survey surveyed 140 landlords and spot absorption firms, covering astir 21,000 units.

Contact Subrina Hudson astatine shudson@reviewjournal.com oregon 702-383-0340. Follow @SubrinaH connected Twitter.