Leasing

May 1st Rent: First Day Payments Hold Surprisingly Steady

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…

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Breaking News: Proposed Pennsylvania Bill Makes Major Leap Towards Eliminating Deposits

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…

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Mid-Month Update: April Rent Payments Trickling In Below Pace – But Better Than Expected

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,…

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COVID-19 Rent Relief Programs from NMHC Top 50 Apartment Operators

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…

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COVID-19 April Rent Payment Report: As Rent Payments Dip, Operators Turn To Payment Plans

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,…

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Security Deposit Replacement Legislation: A Lay of the Land

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…

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April Rent Payments Trend Downward: Data Suggests Impact Across Several US Markets

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…

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April 1st Rent Payments: More Partial Payments in Seattle Foreshadow US Rent Behavior Changes

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…

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COVID-19 Eviction Moratorium Matrix: City and Statewide Residential Eviction Restrictions Due to the Coronavirus

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…

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The Top 4 Benefits of Lease Insurance for Rental Housing

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…

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