***Due to the Coronavirus-related orders issued by Mecklenburg County, GCAA office is open on a limited basis. Staff will be working in office Tuesday-Thursday until September 1 and are available by e-mail and phone. We also welcome visits from our members who have a scheduled appointment with one of our team members. Please check our website at www.greatercaa.org for timely updates and pertinent information. We thank you for your patience as we play our part in keeping our staff and broader community safe.***

NMHC Rent Payment Tracker Finds 77.4 Percent of Apartment Households Paid Rent as of July 6

News ,

NMHC Rent Payment Tracker Finds 77.4 Percent of Apartment Households Paid Rent as of July 6

 

The NMHC Rent Payment Tracker is powered by

Entrata, MRI Software, RealPage, ResMan and Yardi 

 

Washington, D.C. – The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 77.4 percent of apartment households made a full or partial rent payment by July 6 in its survey of 11.4 million units of professionally managed apartment units across the country.

 

This is a 2.3-percentage point decrease from the share who paid rent through July 6, 2019 and compares to 80.8 percent that had paid by June 6, 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.

 

“It is clear that state and federal unemployment assistance benefits have served as a lifeline for renters, making it possible for them to pay their rent,” said Doug Bibby, NMHC President.  “Unfortunately, there is a looming July 31 deadline when that aid ends.  Without an extension or a direct renter assistance program, that NMHC has been calling for since the start of the pandemic, the U.S. could be headed toward historic dislocations of renters and business failures among apartment firms, exacerbating both unemployment and homelessness.”

 

The NMHC Rent Payment Tracker metric provides 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.


NMHC is proud to partner with the following firms on this initiative:

Find more information, including the methodology, on the NMHC Rent Payment Tracker here.  


The NMHC Rent Payment Tracker FAQ can be found here.  


If you have any questions, please contact Sarah Yaussi, NMHC Vice President for Business Strategy – syaussi@nmhc.org or Colin Dunn, NMHC Senior Director for Communications – cpdunn@nmhc.org


This survey is one of a number of NMHC-produced resources focused on the COVID-19 outbreak.

 

Additional resources, data and materials can be found here

 

***

 

Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 40 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, e-mail the Council at info@nmhc.org, or visit NMHC's website at www.nmhc.org.