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:
- The on-time payment rate in independently operated rentals jumped in August, rising to 82.9%.
- Compared to a year earlier, the on-time payment rate is up by 274 bps.
- The August 2023 forecast full payment rate is 92.5% — matching the post-pandemic high.
- 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%).
- 2-4 unit rental properties held the highest on-time payment rates of all sub-property types in August, coming in at 84.3%.