NMHC: June Apartment Rent Payments Continue to Climb
The National Multifamily Housing Council reports that 92.2% of households living in professionally-managed apartments have paid their monthly rent as of June 20. That share exactly matches the rent collections figure for June 1-20, 2019. RealPage stats show payments by product class continue to follow the patterns seen earlier. About 93% of those living in Class A and B product are up-to-date on their rent payments, while the share is moderately lower at roughly 87% in the Class C stock. Payments are off the year-earlier levels in a few locations. Most notably, collections lag the results for June 1-20, 2019 by 5.1 percentage point in Los Angeles and by 4.3 percentage points in Las Vegas.