Adobe Stock/Andrei

This week, the National Multifamily Housing Council’s Rent Payment Tracker shows that 77.4% of professionally managed market-rate apartment households had made a full or partial rent payment by July 6. This marks a 2.3 percentage point decrease from the share who paid rent through July 6, 2019, and compares with the 80.8% share that had paid their June 2020 rent by June 6.

“It is clear that state and federal unemployment assistance benefits have served as a lifeline for renters, making it possible for them to pay their rent,” says NMHC president Doug Bibby. “Unfortunately, there is a looming July 31 deadline when that aid ends. Without an extension or a direct renter assistance program, that NMHC has been calling for since the start of the pandemic, the U.S. could be headed toward historic dislocations of renters and business failures among apartment firms, exacerbating both unemployment and homelessness.”

Read More