In April the apartment industry moved quickly in response to COVID-19, as shelter-at-home laws, eviction moratoriums, and rising unemployment rates became a new reality. Although rent payments trended downward in April, rent payment behavior didn’t decline as much as expected. Today, all eyes have turned to May, to determine whether rent payments will be harder…
Security deposits have long been the bane of renters and apartment operators alike, and a recently proposed Pennsylvania bill has taken a giant step towards eliminating them entirely. What Does New Pennsylvania Security Deposit Legislation Mean for Operators? Building off the recent Cincinnati Renter’s Choice Law, which requires landlords to offer deposit alternatives, a new…
Important statistical note: Despite the measured payment decline based on the sample set, the variance is within normal statistical range. In other words, the decline is not significant enough to attribute specifically to COVID-19 versus normal fluctuations expected across the data set. Please reference full methodology in footnote. Now that we’re halfway through the month,…
As the world continues to combat the spread of COVID-19, non-essential businesses are being forced to shut down and civilians are being ordered to shelter-in-place across the US. Inevitably, the unemployment rate has sky-rocketed, leaving many renters, legislators, and multifamily operators worried about rent. President of the National Multifamily Housing Council, Doug Bibby, recently wrote…
Our April Rent Payment Report aims to inform apartment operators and the wider multifamily industry about important rent behavior trends during the COVID-19 crisis. Read below for a brief summary of key findings. April Rent Payment Report Shows Fewer Full Payments, More Partial Payments While full rent payments made on April 1 returned better-than-expected results,…
UPDATED – February 2022 Nearly a third of US states have passed, proposed, or pledged support for deposit replacement laws. A majority of US states have deposit restrictions. Atlanta is the latest city to pass deposit replacement legislation, while Columbus and Miami are considering similar plans. What Are Security Deposit Replacement Laws? Security deposit legislation…
Important statistical note: Despite the measured payment decline based on the sample set, the variance is within normal statistical range. In other words, the decline is not significant enough to attribute specifically to COVID-19 versus normal fluctuations expected across the data set. Please reference full methodology in footnote. As we move towards the end of…
Important statistical note: Despite the measured payment decline based on the sample set, the variance is within normal statistical range. In other words, the decline is not significant enough to attribute specifically to COVID-19 versus normal fluctuations expected across the data set. Please reference full methodology in footnote. While the effects of shelter-at-home laws, eviction…
In response to COVID-19, lawmakers are acting fast to protect Americans as many try to make their rent payments. On March 27, 2020, the president signed the CARES Act into law, including immediate protection for renters in the form of a temporary moratorium on eviction filing. This federal eviction moratorium is to be in effect…
As almost anyone who has worked in multifamily will tell you, this industry can be very slow to embrace change. Security deposits – and, to a lesser extent, surety bonds – have long been part of apartment operations, and it’s difficult for many property managers to imagine life without them. However, some forward-thinking operators across…
