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NMHC: 76% of Apartment Households Paid Rent as of September 6
The Washington D.C.-based National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found that 76.4% of apartment households made a full or partial rent payment by September 6 in its survey of 11.4 million units of professionally-managed apartment units across the country.
The number represents a 4.8-percentage point decrease from the share who paid rent through September 6, 2019 and compares to 79.3% that had paid by August 6, 2020.
“The initial rent payment figures from September have begun to demonstrate the increasing challenges apartment residents are facing,” said Doug Bibby, president at NMHC. “Falling rent payments mean that apartment owners and operators will increasingly have difficulty meeting their mortgages, paying their taxes and utilities and meeting payroll. The enactment of a nationwide eviction moratorium last week did nothing to help renters or alleviate the financial distress they are facing. Instead, it only is a stopgap measure that puts the entire housing finance system at jeopardy and saddles apartment residents with untenable levels of debt. Federal policymakers would have been better advised to continue to provide support as they successfully did through the CARES Act.”
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