Rental Performance Report for September 2022

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 September 2022.

Key Takeaways on Rental Performance for September 2022

As noted in Chandan’s report, here are the key takeaways:

  1. The on-time payment rate in independently operated rental units improved by 55 bps between August and September, rising to 81.1%.
  2. September’s full payment rate is forecast to land at 91.2%, improving 182 bps year-over-year.
  3. Gateway markets maintained higher on-time payment rates than units located elsewhere for the ninth consecutive month, though the performance gap has narrowed.
  4. Sun Belt rentals underperformed the rest of the US for their sixth consecutive month.
  5. 2-4 Family rentals maintain the highest on-time payment rate of all sub-property types in September, coming in at 83.2%.
  6. Single-Family Rentals hold the lowest on-time payment rates (81.5%.) for September, despite seeing the largest one-month improvement (+88 bps)