Independent landlords’ on-time rent payments slipped to 85.5% in May 2025, and April was revised down to 85.7%, per RentRedi and Chandan Economics.
Quick Answer
On-time rent payments among independent landlords fell 15 basis points (bps) to 85.5% in May 2025, according to the Chandan Economics-RentRedi Independent Landlord Rental Performance Report. Chandan Economics revised April down from 86.3% to 85.7%, and RentRedi’s data shows on-time payments 108 bps below a year earlier, the 22nd straight month of annual declines. The Chandan Economics-RentRedi forecast full-payment rate held at 94.6%.
Wondering how on-time rent payments are faring across the nation? Here is what RentRedi and Chandan Economics found for May 2025, and how it compares with where the series stands today.
Key Takeaways on Rental Performance for May 2025
The Chandan Economics-RentRedi report found five things:
- RentRedi’s data shows the on-time payment rate in independently operated units fell 15 bps to 85.5%.
- RentRedi’s data shows on-time payments have fallen year over year for 22 consecutive months.
- The Chandan Economics-RentRedi forecast full-payment rate held steady at 94.6%, down 298 bps from the post-pandemic peak.
- In RentRedi’s data, Western states led, with Utah (94.0%), Colorado (91.6%), Washington (91.3%), Idaho (91.2%), and Montana (90.9%) in the top five.
- By property type, RentRedi’s data shows 2-4 unit rentals led at 86.2%, ahead of single-family (85.8%) and multifamily (85.1%).
What the May 2025 Data Shows
RentRedi’s data shows 85.5% of units paid their full rent on time, down 15 bps from April. Chandan Economics revised April itself from 86.3% to 85.7%, so RentRedi’s data shows on-time payments slipping 28 bps over two months. Compared with a year earlier, the Chandan Economics-RentRedi data shows on-time payments down 108 bps, the largest annual drop since August 2024.
The Chandan Economics-RentRedi forecast full-payment rate, which counts on-time payments plus late payments expected to come in, held at 94.6%. Chandan Economics noted that April and May were the lowest readings since March 2024. RentRedi’s data also shows on-time payments down a cumulative 275 bps from post-pandemic highs, which Chandan Economics flagged as a warning sign for the months ahead.
Where Rent Payments Were Strongest
RentRedi’s data shows Western states in front, with Virginia (88.0%) the first non-Western state, at No. 11. Year over year, the Chandan Economics-RentRedi data shows Mississippi (+178 bps), North Dakota (+126 bps), and Minnesota (+105 bps) improving most.
In the same RentRedi data, West Virginia (-834 bps), Nevada (-769 bps), and Rhode Island (-745 bps) fell furthest. Only 7 of the 50 states and districts that met reporting standards improved from a year earlier.
Why Spring Rent Payments Fade
RentRedi’s tax refund analysis found renters with poor-to-fair credit pay on time 2.5 to 4.4 percentage points more often from February to April than the rest of the year. May’s dip followed the end of that window.
How May 2025 Compares With May 2026
The pattern has since flipped. The Chandan Economics-RentRedi May 2026 report put on-time payments at 84.5%, 48 bps below May 2025, and extended the streak of annual declines to 34 consecutive months. That streak ended in June 2026, when the Chandan Economics-RentRedi June 2026 report showed the first year-over-year gain since early 2023.
First estimates move, as Chandan Economics’ revision of April 2025 from 86.3% to 85.7% showed. Chandan later revised May 2026 from 84.5% to 83.9%, so May 2025’s 85.5% should be read the same way. Browse the monthly rental performance reports archive for every month.
What Landlords Can Take From the Data
A warning-light month is when collection habits matter most. RentRedi’s survey on autopay, reminders, and credit reporting found that units with tenants on autopay reach a 99% on-time rate, compared with 87% without it. In the same RentRedi survey, tenants ranked automatic reminders highest for helping them pay on time, at 44%.
Want steadier on-time rent in a tight month? See how RentRedi’s automated rent collection handles autopay, reminders, and late fees.