Rental Performance Report for November 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 November 2025.

Key Takeaways on Rental Performance for November 2025

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

1. In November 2025, on-time rental payments in independently operated units rose by 65 basis points (bps) to 83.7%.
2. Measured year-over-year, on-time payment rates have fallen for 28 consecutive months.
3. Despite lower on-time payment rates, full payment rates have held up in 2025, averaging 96.1% this year — outperforming the 2024 average.
4. Late payments — the primary driver of underperformance in the mom-and-pop sector — have remained above 10% for all of 2025.
5. Western states continue to hold the highest on-time payment rates in the country, led by South Dakota, Utah, Alaska, Montana, and Wyoming.
6. 2–4-family rental properties led all property types in November with the highest on-time payment rate, coming in at 84.4%.

Recent national data paint a picture of improvement. While on-time collections remain well below post-pandemic highs, the recent positive inflection suggests a rebound is already underway. Objectively, current collection levels represent underperformance, though the upward trajectory is justifiably fueling optimism.