All of that said, I think you overestimate the number of homes held by struggling landlords, if even such a thing exists. Corps own a -lot- of rental homes.
The corps are the most cautious with rental background checks, and are probably suffering less from non-payment than less cautious individual landlords.
Let’s focus on Invitation Homes, a $21 billion publicly traded company that was spun off from Blackstone, the world’s largest private equity company, in 2017. Invitation Homes operates in 16 cities, with the biggest concentration in Atlanta, where it owns 12,556 houses. (Though that’s not much compared with the 80,000 homes sold in Atlanta each year, Invitation Homes bought 90 percent of the homes for sale in some ZIP codes in Atlanta in the early 2010s.) While normal people typically pay a mortgage interest rate between 2 percent and 4 percent these days, Invitation Homes can borrow money for far less: It’s getting billion-dollar loans at interest rates around 1.4 percent. In practice, this means that Invitation Homes can afford to tack on an extra $5,000 to $20,000 to the purchase price of every home, while getting the house at the same actual cost as a typical homeowner. While Invitation Homes uses a mixture of debt and cash from renters to buy houses, its offers are almost always all cash, which is a big leg up in a competitive market....
https://slate.com/business/2021/06/blackrock-invitation-hous...
That said, I don't know. I only know 75% of all rental houses in my market are owned by Blackrock.
I didn't address that part, mainly because I don't know specifics, only observations. In my area, they move in with family when they can. It's not uncommon to see 3 generation houses here. I have no idea what happens to those who don't have such a luxury.
I'm assuming the renters.
Many will find another rental.
What scares me is the homeless clusters I see popping up in my county.
It seems like many just gave up--for good reasons.
I have noticed towns, like Sausalito CA, are doing everything they can to get the homeless to move on.
I have a feeling a lot of towns, seemingly Liberal towns, are are using that Broken Window Pane theory to get the down, and out, out of their lily white upperclass lives.
They vote Democratic, but don't want those people near them.
(In all fairness Sausalito created their own problem before Covid. For years, we had Anchorouts. Sausalito decided to get tough with the Anchorouts. Sausalito claims the numbers were rising, but I feel they pulled those numbers out of their bungholes. I have watched the Anchorouts for years from my office, and if anything it looked like the numbers diminished. They decided to demolish boats they deemed unworthy.
They gave that power to a angry, drunkard, otherwise known as the Harbor Master. (Just a citizen who decided who's going to stay, and who's going to go. No rhyme or reason to his decisions, and wealthy yacht owners could moor in the same spot for months. As to the Drunkard charge, ask anyone at The No Name Bar. (If ever in Sausalito, visit the No Name Bar. You will see some funny very personal pictures of Clint Eastwood scattered about.)
These people's boats were demolished. They had nowhere to go, so they set if camp on the shore. Of course, Liberal Loaded Larry didn't like seeing the free loafers, and complained.
The end result is a bunch of homeless land bound campers are being harassed by local law enforcment, like $500 citations for petty violations. The Cops told the IJ, these people will never pay, so who cares how much the citation is? Cops don't realize citations eventually turn into warrants?
I'm sorry about my rant. I live in Marin County, CA, and my neighbors are unbelievable hippocrates, and this issue has been bothering me for awhile. Marin is home to our Governor, and his spoiled wife. Leave her Gavin. You know you want to.)