Hi and welcome to the A16C podcast I'm Lauren Murrow. This episode is the second in a two-part series that examines the pandemic's impact on real estate.

Part one focused on prospective homebuyers, sellers,

and existing homeowners,

while this episode, Part 2, addresses renters and landlords.

The conversation features A16Z general partner Connie Chan,

whose experience as a landlord herself

has fueled her interest in residential real estate

and technology.

Professor Richard Green, the director of USC's

Lusk Center for Real Estate,

and Adena Heffitz, CEO of Dibby Homes,

a company that allows people to build up equity

while renting a home with the option to eventually buy it.

We begin with the pressures on renters and the

uncertainty around federal relief measures as well as a cascading effect on

mom and pop landlords. Then we turn to the outlook for prices and volume in the rental market, particularly in large cities like New York and San Francisco.

Finally, we discussed the opportunity for tech to solve outdated and inefficient processes for both renters and landlords.

The first voice you'll hear after mine is Professor Richard Greens, followed by Adena.

So nearly a third of the country's 40 million renters didn't make the rent payment on time in April,

around 20% didn't make payment in May. That's according to the National Multipamily Housing Council.

So can you put that into context for us? What is the norm and are these numbers to be expected given the scope of unemployment?

Actually the May numbers are not that far off of what a normal month is.

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