Rental Performance Report for March 2025

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 March 2025.

Key Takeaways on Rental Performance for March 2025

As noted in Chandan’s report, here are the key takeaways on the rental performance for March 2025:

1. In March 2025, the on-time payment rate in independently operated rental units jumped by 53 basis points (bps), rising to 85.7%.
2. The forecast full-payment rate improved for the second straight month, rising to 94.7%.
3. Western states continue to hold the highest on-time payment rates in the country, led by Idaho, New Mexico, Alaska, California, and Utah. 
4. 2-4-family rental properties and single-family rentals held the highest on-time payment rates in February, coming in at 85.7%.

On-time rental payments in units operated by independent landlords improved markedly in March. As of this month’s first estimate, 85.7% of units have successfully paid their full rental bill on time, jumping by 53 basis points (bps) from the prior month — the most substantial single-period improvement in the past two years. Notably, seasonal factors do appear at play. On-time payment rates have improved every March in the RentRedi-Chandan sample.

Compared to a year earlier, on-time payments are down slightly by a quarter of a percentage point (-25 bps). On-time collection rates have now fallen annually for the past twenty (20) consecutive months. However, the pace of annual increase has meaningfully lessened in recent months. If the month-over-month turnaround seen in March is sustained, it won’t take long for the annual growth comparison to rejoin the positive side of the ledger.