92.2% of Apartment Households Paid Rent as of June 20th
Despite national economic uncertainty it seems multifamily real estate is holding strong. In a June 23 article by Colin Dunn on the National Multifamily Housing Council’s website, the NMHC’s Rent Payment Tracker “…found 92.2 percent of apartment households made a full or partial rent payment by June 20 in its survey of 11.4 million units of professionally managed apartment units across the country.”
While this positive news is welcomed, Doug Bibby, NMHC President, believes continued support by lawmakers is critical:
“The early steps taken by lawmakers have proven critical to keeping many safely and securely housed. As we move forward and the economy begins to recover, it will be vitally important that lawmakers continue to support the nation’s renters and forestall even greater economic harm.”
According to the FAQ for the NMHC Rent Payment Tracker, data that makes up the weekly metric comes from five leading property management software providers: Entrata, MRI Software, RealPage, ResMan, and Yardi. Methodology and additional information about the NMHC Rent Payment Tracker can be found here.