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 February 2023.
Key Takeaways on Rental Performance for February 2023
As noted in Chandan’s report, here are the key takeaways:
The on-time payment rate in independently operated rental units improved by 197 bps between January and February, coming in at 83.4% and reaching a new post-pandemic high.
National on-time payment rates have now held above 81% in five consecutive months— a first in the life of the Chandan Economics-RentRedi tracking.
February’s full payment rate is forecast to land at 92.7% —also a new high.
Colorado holds the highest on-time payment rate of any state in the country, coming in at 91.4% in February.
On-time payment rates picked up across all price points in February, with low-priced rentals seeing the most month-over-month improvement.
2–4-unit rental properties held the highest on-time payment rates of all sub-property types in February, coming in at 84.2%.
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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.