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 November 2022.
Key Takeaways on Rental Performance for November 2022
As noted in Chandan’s report, here are the key takeaways:
- The on-time payment rate in independently operated rental units improved by 188 bps between October and November rising to 82.6%, reaching a 2022 high.
- November’s full payment rate is forecast to land at 91.6%, improving 118 bps year-over-year.
- The on-time payment rate surged to 83.4% for Sun Belt rentals in November, reaching a post-pandemic high and outperforming units located elsewhere.
- Units in Gateway markets underperformed units located elsewhere for the first time in nearly year.
- 2–4-unit rental properties hold the highest on-time payment rate of all sub-property types in November, coming in at 84.2%.