In its debut rent tracker report, the National Multifamily Housing Council reported that 69% of households had paid their rent, either partially or in full, by April 5, compared to 81% that had paid by March 5, 2020. The rent tracker is based on data from 13.4 million rental apartments. The association has partnered with several firms to create this metric, including RealPage, Yardi and Entrata.
This increase in nonpayment comes as little surprise given the millions of people thrown out of work over the past month. With more layoffs and furloughs expected, the metric provides some insight into how the unfolding coronavirus crisis might affect the apartment industry on a wider scale.
Read more...A Look at Who Didn’t Pay Their Rent This Month via GlobeSt