And we are going to have good conversations along that corridor with a lot of people, and we are seeing responsiveness. And so we are well our capital flow, where those opportunities are embraced.
Rob Stevenson: And I guess the one sort of numerical question, how much when you take a look at it, did you guys lose from the eviction moratoriums dollar-wise or percentage of rent? And if those get re-imposed if job loss is mount, how big of an issue is that going forward in a tougher rental rate environment?
Thomas Toomey: My response would be a lot, but I don’t know the number.
Joe Fisher: Hey Rob, it’s Joe. I do have to know the numbers. So, the write-offs that we had throughout that period of time, we are probably right around $60 million in terms of total write-offs as we came through 2021, €˜22 and even here into €˜23. So, we have seen fairly elevated numbers on that front. That said, I mean it sounds like a big dollar amount, but put it in perspective on $1.6 billion of annual revenue. We are collecting 98.5% of the rents that we are billing. So, we are maybe off 100 basis points from where we would have been at pre-COVID. So, therein lies the opportunity to the extent that eviction moratoriums or diversion programs come off over time. We don’t expect it to. We don’t think we are going to recapture that 100 basis points near-term, but we don’t see a material downside either.
Rob Stevenson: Okay. Thanks guys.
Operator: Thank you. Our next question is from Connor Mitchell with Piper Sandler. Please proceed with your question.
Connor Mitchell: Hey. Thanks for taking my questions. Regarding the D.C. market, the government workers are still working from home. So, could you just comment on how that’s affecting the apartment demand?
Mike Lacy: Yes. D.C. is, obviously, it’s a big market for us. It’s right around 15% of our NOI. I will tell you what we are expecting to see as people start to return to office, hopefully, here in May timeframe. Over the next few weeks, given it’s a 60-day market, we do expect demand to start to pick up a little bit. What we are seeing today just on the floor is concessions a little bit in the 14th Street corridor out in the suburbs, very minimal concession activity. So, again, once people start coming back to the office a little bit more, we think D.C. has some likes to grow and could be a pretty strong market for us in 2023.
Connor Mitchell: Appreciate that. And then my second question, with the increased attention on EV fires , could you guys just put some color on how you are going about upgrading your fire suppression systems, in the garage? Just since EV fires use a lot more water than the average fire?
Joe Fisher: Yes. That may be one to take offline. So, we do have a pretty robust EV rollout program working within our redevelopment team. And so between electrical load, fire suppression, etcetera, you are right, it is a pretty decent cost relative to the ROI that you receive on those. But maybe you wanted to take offline if you want to follow-up, and we can get to our experts in that space to talk you through it?
Connor Mitchell: Yes, appreciate it. Thank you.
Operator: Thank you. Our next question is from Anthony Powell with Barclays. Please proceed with your question.
Anthony Powell: Hi. Good afternoon. Question about how you see your Sunbelt markets progressing this year. Are you seeing good trends there, good demand trends? And could you expect Tampa, Orlando, Nashville and Dallas to see positive new lease spreads in 2023?
