the same thing applies to eviction moratorium, there are a lot of financial institutions, big and small, are targeting mom and pop landlords who cannot withstand the non paying tenants. The owners sold at a cheaper price given the promise of no headache and the institutions have lawyers on retainers. Seen this played out many times, I even got involved in a JV deal for one. It's insane how californians complain about high rent prices, with insanely high risk like this of course there needs to be a high return, not to mention the nimby limiting the supply.