On-time rent payments from independent landlords rose to 83.7% in November 2025, a third straight gain, per RentRedi and Chandan Economics.
Quick Answer
Rent kept inching back in November 2025. On-time rent payments among independent landlords rose 65 basis points (about two thirds of a percentage point) to 83.7%, the third monthly gain in a row, according to the Chandan Economics-RentRedi Independent Landlord Rental Performance Report. RentRedi’s data shows on-time payments still 223 bps below a year earlier, the 28th straight month of annual declines. The Chandan Economics-RentRedi forecast full-payment rate, the share of rent that eventually gets paid even when it’s late, slipped 9 bps to 94.9%.
Nothing flashy here, just steady progress, and we’d rather give it to you straight. Here is what RentRedi and Chandan Economics found for November 2025, and how it compares with the latest in our monthly rental performance reports.
Key Takeaways on Rental Performance for November 2025
The Chandan Economics-RentRedi report found six things:
- RentRedi’s data shows on-time rental payments in independently operated units rose 65 bps to 83.7%.
- RentRedi’s data shows on-time payments have fallen year over year for 28 consecutive months.
- RentRedi’s data shows full payment rates holding up in 2025, averaging 96.1% so far and beating the 2024 average.
- RentRedi’s data shows late payments, the main driver of underperformance, staying above 10% for all of 2025.
- In RentRedi’s data, Western states led, with South Dakota (95.1%), Utah (94.5%), Alaska (93.3%), Montana (92.8%), and Wyoming in the top five, and New Hampshire (91.8%) the only East Coast state in the top 10.
- By property type, RentRedi’s data shows 2-4 unit rentals led at 84.4%, ahead of single-family (83.7%) and multifamily (82.5%).
What the November 2025 Data Shows
RentRedi’s data shows 83.7% of units paid their full rent on time in November, so roughly 1 in 6 units in RentRedi’s data missed the due date. On a 10-unit portfolio, RentRedi’s numbers work out to about two tenants paying late in a typical month. It was the third gain in a row, and Chandan Economics put the November rate 130 bps above the August trough.
First, the caveat: these are first estimates. Chandan Economics revised October from 83.5% to 83.0%, so a first estimate can run a little high. The Chandan Economics-RentRedi data shows on-time payments 223 bps below a year earlier, though RentRedi’s data shows that gap narrowing in October and November after drops of roughly 300 bps in July, August, and September.
Late payments are still the sore spot. RentRedi’s data shows the three-month average never reached double digits in 2023 or 2024, then climbed from 8.4% to 13.2% in August 2025. Chandan Economics saw the first signs of easing in September, when the rate slipped to 13.1% and snapped a five-month streak of increases.
The Chandan Economics-RentRedi forecast full-payment rate, which counts on-time payments plus late payments expected to come in, slipped 9 bps to 94.9%, and Chandan Economics said actual full payment has beaten the forecasts lately because late rent is getting resolved at higher-than-expected rates. RentRedi’s data shows full payment averaging 96.1% in 2025 so far, between the 2023 average (96.6%) and the 2024 average (95.3%). Since the data counts partial payments as unpaid, the hit to your bank account may be smaller than the headline suggests.
Where Rent Payments Were Strongest
The West led again. RentRedi’s data shows South Dakota on top at 95.1%, with Utah, Alaska, Montana, and Wyoming rounding out the top five, and our Utah landlord tenant law guide covers the 2026 rules if you own there. Chandan Economics noted New Hampshire as the only East Coast state in the top 10 in RentRedi’s data, with Vermont (89.8%) and Virginia (89.8%) in the top 15.
The Chandan Economics-RentRedi data shows every property type improving, with 2-4 unit rentals gaining the most at 77 bps. If you run a duplex or a fourplex, you’re still in the group doing best.
Chandan Economics described a job market light on hiring but also light on firing, with about 684,000 jobs added through September, less than half the pace of 2024. Its read: steady work keeps incomes stable for people who already have jobs, so on-time rent should keep recovering as long as major job losses and inflation stay away.
How November 2025 Compares With September 2026
Fair warning: the November number moved too. Chandan Economics’ December 2025 report had on-time payments up 73 bps to 83.7%, which implies November was revised down to about 83.0%. Chandan Economics’ January 2026 report later put the late-payment high at 13.4% in September 2025 and November’s observed reading at 12.8%, so the easing was real but slow. Chandan Economics also later described annual declines of more than 300 bps in parts of late 2025, so the 223 bps shown here may have been revised wider.
The Chandan Economics-RentRedi September 2026 report has on-time payments at 83.2%, 91 bps above September 2025, with a forecast full-payment rate of 96.2%. In other words, the annual gap that was in the red in this report is now in the black.
For RentRedi’s read on the latest month, see September 2026 on-time rent data.
What Landlords Can Take From the Data
Where does that leave you? Make paying on time the easy thing. RentRedi’s autopay and reminders survey 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%. It’s a small nudge, and tenants say it works. Keeping a tenant ledger also shows you at a glance who pays on time and who drifts.
Read the full November 2025 report from Chandan Economics
Tired of chasing rent? See how RentRedi’s automated rent collection handles autopay, reminders, and late fees.