Rental Performance Report for October 2022
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 October 2022.
Key Takeaways on Rental Performance for October 2022
As noted in Chandan’s report, here are the key takeaways:
- The on-time payment rate in independently operated rental units improved between September and October, rising to 81.9%, reaching a 2022 high.
- October’s full payment rate is forecast to land at 92.5%
- On-time payment rates in Florida have declined slightly in the aftermath of Hurricane Ian, though they continue to outperform the national average.
- Gateway markets maintained higher on-time payment rates than units located elsewhere for the tenth consecutive month, though the performance gap has narrowed close to parity.
- Small Multifamily rental properties (5-49 units) hold the highest on-time payment rate of all sub-property types in October, coming in at 83.2%.
RentRedi Partners
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Easy, Affordable Insurance Solutions for Rental Property Owners
Steadily provides fast and convenient online quote estimates in minutes and connects with licensed landlord insurance experts. Get competitive rate options for many types of rental properties, which helps landlords access affordable coverage in 50 markets nationwide. Learn more.
Market Analysis Has Never Been Easier & More Affordable
BrightInvestor helps you find the best real estate markets, get MLS access, source off-market deals all in one place. Learn more.
Struggling To Find Good Landlord Insurance?
Honeycomb provides better coverage and clarity at a fraction of the cost. Get Property & Casualty insurance for landlords, PMs, & owners. Insurance reinvented! Learn more.
Protect Your Property—Without Increasing Operating Expenses
TheGuarantors provides two types of coverage in one simple solution: rent and deposit coverage which protects you from rent defaults, vacancies, lease breaks, damages, and more. Eliminate the need for co-signers and guarantors. TheGuarantors platform is free for landlords and affordable for renters! Learn more.
Easy, Affordable Insurance Solutions for Rental Property Owners
Steadily provides fast and convenient online quote estimates in minutes and connects with licensed landlord insurance experts. Learn more.
Market Analysis Has Never Been Easier & More Affordable
BrightInvestor helps you find the best real estate markets, get MLS access, source off-market deals all in one place. Learn more.
Struggling To Find Good Landlord Insurance?
Honeycomb provides better coverage and clarity at a fraction of the cost. Get Property & Casualty insurance for landlords. Learn more.
Protect Your Property—Without Increasing Operating Expenses
TheGuarantors provides rent and deposit coverage in one simple solution that protects you from rent defaults, lease breaks, and more. Learn more.