Eviction Rates: Up but Down

The Rental Housing Association of Utah (RHA; formerly known as the Utah Apartment Association) reported in late September that eviction rates in Utah were up 46% in the first six months of 2022 when compared to the same period in 2021. That’s the bad news.
The good news?

The new rate is below, in fact well below, pre-pandemic eviction filings for 2018 and 2019. To put a finer point on it, eviction filings in Utah for the six months ending 30-June-2022 totaled 2,888. Compared to 2018 (3,523 filings) and 2019 (3,478 filings), the 2022 totals are 18% and 17% below (respectively) each year’s total. The Board Chair of the RHA comments in the article that Utah evictions, “…are much lower than the national average and lower than our neighboring states.” Specifics statistics aren’t provided.

Svikhart & Associates encourages owners, operators and managers to proactively work with their residents who are experiencing difficulties in paying rent. Often there are circumstances beyond the resident’s control that have impacted their ability to pay. In these situations an effective plan to offset the delinquent rent can be implemented to everyone’s satisfaction.  The article also provides means by which struggling renters can seek assistance to offset their delinquent status.

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management and the entire scope of a multifamily investment. Specific diligence is on property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners in analyzing the economic, financial, and market factors that impact returns on their multifamily investment. The firm targets ‘Mid-Tier’ assets (10-to-60-unit properties) and provides a full range of brokerage services for property listing and sale.

Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides.

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