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Rent Collections Off Meaningfully in Select Areas

Rent Collections Off Meaningfully in Select Areas

The share of households making rent payments in the January 1-13 time frame dropped 2.2 percentage points below year-earlier levels, according to information for market-rate apartment communities using RealPage property management software. Mid-January collections were virtually identical (-0.1 point) to mid-December results, with those December figures ranking as the weakest payment level seen over the past year. Trouble spots for rent payments so far this month include New York, Portland and Seattle, while there’s also some year-over-year deterioration in collections across San Francisco, San Jose, Memphis, Chicago and Riverside.