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Must Agreements Be Kept? Residential Leases During Covid-19

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Listed:
  • Itai Ater
  • Yael Elster
  • David Genesove
  • Eran B Hoffmann

Abstract

We study residential lease payments during the COVID-19 pandemic. A survey of Israeli renters shows that nearly one in eight did not pay full rent during the first lockdown in March–April 2020. These households held back two-thirds of their contractually due rent on average. Financially fragile households with large income cuts withheld a greater share. Both formal and relational aspects of the landlord-tenant relationship affected payments: tenants paid more of their rent if their leases included formal provisions against non-payment, and less if they had strong relationships with their landlords. We use bargaining and relational contract theories to explain our findings.

Suggested Citation

  • Itai Ater & Yael Elster & David Genesove & Eran B Hoffmann, 2023. "Must Agreements Be Kept? Residential Leases During Covid-19," The Economic Journal, Royal Economic Society, vol. 133(649), pages 477-492.
    • Handle: RePEc:oup:econjl:v:133:y:2023:i:649:p:477-492.
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    File URL: http://hdl.handle.net/10.1093/ej/ueac065
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