Rental Performance Report for July 2024
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 2024.
Key Takeaways on Rental Performance for July 2024
As noted in Chandan’s report, here are the key takeaways on the rental performance for July 2024:
- In July 2024, the on-time payment rate in independently operated rental units fell for its second consecutive month, sliding to 85.0%.
- Compared to a year earlier, the national on-time payment rate is down by 139 bps.
- Western states, led by Utah, Idaho, Nevada, Oregon, and California, continue to have the highest on-time payment rates in the country.
- Single-family rental properties held the highest on-time payment rates of all sub-property types in July, coming in at 85.6%.
RentRedi Partners
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.