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 December 2022.
Key Takeaways on Rental Performance
As noted in Chandan’s report, here are the key takeaways:
- The on-time payment rate in independently operated rental units declined by 156 bps between November and December falling to 81.2%, reaching a 2022 high.
- National on-time payment rates have now held above 81% for three consecutive months — a first in the life of the Chandan Economics-RentRedi tracking.
- December’s full payment rate is forecast to land at 90.7%.
- The on-time payment rate remained higher than units located elsewhere for the second consecutive month, landing at 81.7%
- 2–4-unit rental properties and SFRs held the highest on-time payment rates of all sub-property types in December, coming in at 82.3%, respectively.