While apartment dwellers wait for the federal government to provide another Coronavirus economic relief package, multifamily property owners are paying the price of the delay with declines in the number of rent payments being made.
Measuring the number of households that made full or at least partial rent payments by November 6th, the National Multifamily Housing Council's Rent Payment Tracker posted a year-over-year drop of 1.1%—a decrease of 131,712 households.
Full month payments this fall also slipped from 2019 levels. In October, the Rent Payment Tracker posted a total of 94.8%, compared to 96.6% a year prior. For September, 94.6% of households made payments this year, while that number came in at 95.5% in 2019.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
