By Aug. 6, 80.2% of professionally managed apartment households had made a full or partial rent payment, according to the National Multifamily Housing Council’s Rent Payment Tracker.
This marks a 0.9 percentage point increase from the share of tenants who paid rent through Aug. 6, 2020, and it compares with 81.2% of properties paid by Aug. 6, 2019.
Through the entire month of July, 94.9% of tenants ultimately made a full or partial rent payment. In the first week of the month, only 79.7% of tenants had made a payment.
“The most recent NMHC Rent Payment Tracker data found that payments fell slightly in July, and this month’s first week results look to be generally stable or even a bit higher than last year in August,” said Caitlin Sugrue Walter, NMHC vice president of research. “Overall, prospects for the industry remain strong as demand is resilient across the country and there seems to be some easing of material costs compared with recent months. Looking ahead, I expect the industry to continue to build new housing at a very steady rate.”