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 January 2023.
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 improved by 6 bps between December and January, coming in at 81.5%.
- National on-time payment rates have now held above 81% for four consecutive months —a first in the life of the Chandan Economics-RentRedi tracking.
- January’s full payment rate is forecast to land at 90.8%.
- The on-time payment rate remained higher for units in the Sun Belt compared to units located elsewhere for the second consecutive month, reaching 82.4%
- 2–4-unit rental properties held the highest on-time payment rates of all sub-property types in January, coming in at 82.4%.