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 April 2023.
Key Takeaways on Rental Performance for April 2023
As noted in Chandan’s report, here are the key takeaways:
- The on-time payment rate in independently operated rental units declined by 98 bps between March and April, coming in at 83.6% and reaching a new post-pandemic high.
- Full payment rates for April are forecast to reach a new all-time high of 93.8%.
- Washington holds the highest on-time payment rate of any state in the country, coming in at 92.8% in April.
- On-time payment rates dropped across all price points in April, with low-priced rentals seeing the largest month-over-month declines.
- 2–4-unit rental properties held the highest on-time payment rates of all sub-property types in April, coming in at 84.7%.