Rental Performance Report for July 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 July 2023.

Key Takeaways on Rental Performance for July 2023

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

1. The on-time payment rate in independently operated rental units held flat in July, remaining at 81.8%.
2. Compared to a year earlier, the on-time payment rate remains up by 105 bps.
3. The July 2023 forecast full payment rate is 91.9% — just 65 bps below its post-pandemic peak.
4. A handful of western states hold the highest on-time payment rates in the country, led by Oregon (90.1%), Arizona (88.3%), Washington (87.6%), California (87.4%), and Colorado (86.4%).
5. Single-Family Rental (SFR) properties held the highest on-time payment rates of all sub-property types in June, coming in at 82.1%.