Wondering how on-time rent payments are faring across the nation? Take a look at Chandan Economics & RentRedi’s Independent Landlord Rental Performance Report for August 2022.
Key Takeaways on Rental Performance for August 2022
- The on-time payment rate in independently operated rental units declined by 55 bps between July and August, falling to 79.7%.
- Gateway markets maintained higher on-time payment rates than units located elsewhere for the eighth consecutive month, despite seeing year-over-year declines.
- Sun Belt rentals underperformed the rest of the US for their fifth consecutive month.
- 2-4 Family rentals maintain the highest on-time payment rate of all sub-property types in August, coming in at 82.5%.
- Single-Family Rentals hold the lowest on-time payment rates, averaging 80.5%.