Rental Performance Report for October 2024
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 October 2024.
Key Takeaways on Rental Performance for October 2024
As noted in Chandan’s report, here are the key takeaways on the rental performance for October 2024:
- In October 2024, the on-time payment rate in independently operated rental units improved for the first time in five months, rising to 85.5%.
- The forecast full-payment rate jumped by an encouraging 115 bps to 96.0% in October.
- The nine states with the highest on-time payment rates are all located in the West, led by Nevada, Utah, Idaho, Colorado, and California.
- 2-4-family rental properties held the highest on-time payment rates of all sub-property types in October, coming in at 85.7%.
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