COVID-19: Impact on Payments
As COVID-19 froze the global economy, triggered mass layoffs and left many renters in a compromised financial state, apartment operators moved quickly in an unprecedented effort to provide accommodations for renters.
Payment plans were nearly unheard of in the market-rate sector until a few weeks ago, and now they are widely offered. What are the most common approaches? How many renters are using them? Are these plans helping boost rent collections? What should we expect for May payments?
Join RealPage® Deputy Chief Economist/VP Jay Parsons for the webcast, COVID-19: Impact on Payments, along with leading apartment operators including Sequoia, CAPREIT and Blue Ridge as they discuss:
- Best practices for payment plans that work for both renters and property managers—including the most creative approaches
- The response and volume of renters to payment plan offers
- April rent collection updates and expectations for May (which many apartment executives worry could be more challenging)
- How property managers are encouraging online rent payments, new data on the growth trends, and the implications of processing physical checks
Jay Parsons is RealPage’s Deputy Chief Economist and Vice President of Asset Optimization. Jay has been in the multifamily housing industry for more than a decade, and works across market research and forecasting, revenue management, business intelligence, as well as multi-dimensional optimization across pricing, marketing, leasing and risk management. He has provided commentary on CNBC and in the Wall Street Journal. His writings and research have been published by the Pension Real Estate Association, the Mortgage Bankers Association, the National Apartment Association, American Banker, GlobeSt and Multifamily Executive. Jay is also a frequent speaker at events and conference, including the National Multifamily Housing Council, NAIOP, NAA and ULI.