Rental Performance Report for August 2023

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 August 2023.

Key Takeaways on Rental Performance for August 2023

As noted in Chandan’s report, here are the key takeaways on the rental performance for August 2023:

1. The on-time payment rate in independently operated rentals jumped in August, rising to 82.9%.
2. Compared to a year earlier, the on-time payment rate is up by 274 bps.
3. The August 2023 forecast full payment rate is 92.5% — matching the post-pandemic high.
4. A handful of western states hold the highest on-time payment rates in the country, led by Colorado (92.5%), Utah (91.5%), Arizona (89.3%), Oregon (87.8%), Washington (87.4%), and California (87.0%).
5. 2-4 unit rental properties held the highest on-time payment rates of all sub-property types in August, coming in at 84.3%.

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.