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 June 2023.
Key Takeaways on Rental Performance for June 2023
As noted in Chandan’s report, here are the key takeaways on the rental performance for June 2023:
- The on-time payment rate in independently operated rental units declined for the third consecutive month in June, falling to 82.5%.
- Compared to a year earlier, the on-time payment rate remains up by 118 bps.
- The June 2023 forecast full payment rate is 91.6% — just 44 bps below its post-covid peak.
- Oregon holds the highest on-time payment rate of any state in the country, coming in at 89.7% in June.
- 2–4-unit rental properties held the highest on-time payment rates of all sub-property types in June, coming in at 83.2.