These days, rent collection data is among the most highlyreviewed monthly reports. However, the strength of rent paymentsduring the pandemic really depends on what outlet you're reading.For June, Lease Lock has reported rents are down6% compared to pre-COVID levels; the National MultifamilyHousing Council is reporting that June rents are on parwith 2019 collections to date; and Apartment Listreports that 30% of tenants are not able to make a complete rentpayment.

The inconsistencies come down to two factors: First, someoutlets are counting only full rent payments, not partial payments.Second, each research outlet is looking at a different segment ofthe market. "The goal of our survey is to get as broad andrepresentative of a sample as possible. By just looking atcollections data, you might focus on larger, professionally managedbuildings that skew more expensive and tend to have higher-incomeresidents that may find it easier to pay rent," RobWarnock of Apartment List tells GlobeSt.com.

Apartment List uses data from smaller mom-and-pop landlords inaddition to some larger landlords, giving a different marketperspective. "Our survey captures some of those residents, butshould also capture renters in a broader set of housing situations,like those renting from mom-and-pop landlords," says Warnock. "Wesuspect that's part of the reason why our missed payment rate tendsto be higher than what's reported by other sources."