May-1-calendar Photo by Shutterstock

BETHESDA, MD—A month ago the multifamily industry was on tenterhooks waiting to see if tenants would pay their April rent. The first set of numbers, produced by the National Multifamily Housing Council, were somewhat concerning but later in the month new figures from the association showed that paid rents were better than had originally been expected

But just wait for May, the industry was warned from all quarters. After all, the US economy didn’t start to shut down until the middle of March and tenants were still somewhat solvent by April 1st. May is expected to be different with millions of people thrown out of work for the entire month.

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Erika Morphy



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