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On-Time Rent Payments Tick Downward as July Begins
The National Multifamily Housing Council (NMHC)’s latest Rent Payment Tracker found 77.4% of apartment households made a full or partial rent payment by July 6. That’s a 2.3-percentage point increase from the share that paid rent through July 6, 2019 and a 3.4-percentage point decline from June 6 of this year.
“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.”
NMHC’s Rent Payment Tracker surveys 11.4 million professionally managed apartment units across the country.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Lease
