By the Rental Housing Journal
The rent payment tracker for June showed 92.2 percent of apartment households had paid some rent by June 20, according to a release from The National Multifamily Housing Council (NMHC).
The NMHC found in its survey of 11.4 million units of professionally managed apartment units across the country that 92.2 percent of apartment households made a full or partial rent payment by June 20.
This is unchanged from the share who paid rent through June 20, 2019 and compares to 90.8 percent that had paid by May 20, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price, according to the release.
The NMHC Rent Payment Tracker metric can provide insight into changes in resident rent payment behavior over the course of each month, and, as the dataset ages, between months. While the tracker is intended to serve as an indicator of resident financial challenges, it is also intended to track the recovery as well, including the effectiveness of government stimulus and subsidies.
However, noteworthy technical issues may make historical comparisons imprecise.
For example, factors such as varying days of the week on which data are collected; individual companies’ differing payment collection policies; shelter-in-place orders’ effects on residents’ ability to deliver payments in person or by mail; the closure of leasing offices, which may delay operators’ payment processing; and other factors can affect how and when rent data is processed and recorded.
Total unit counts may change as units are leased or vacated and survey methodology is refined.
“With the support of expanded unemployment benefits, stimulus funds and significant efforts by apartment community owners and operators to help residents impacted by the outbreak of COVID-19 and resulting financial hardships, it seem most renters were once again able to meet their obligations,” Doug Bibby, NMHC President, said in the release.
“The early steps taken by lawmakers have proven critical to keeping many safely and securely housed. As we move forward and the economy begins to recover, it will be vitally important that lawmakers continue to support the nation’s renters and forestall even greater economic harm,” he said.
3 In 10 Americans Missed Housing Payments in June
WLA Office Staff