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Percent of November 1st rent collected dropped 9 points MoM. First-day rent payments slipped across properties of all asset classes. Congress has yet to pass another COVID relief bill. The US presidential election is today, coronavirus cases are surging globally, and talks of a new stimulus package are at a stalemate, all contributing to large…
Percent of October 1st rent collected dropped 5 points MoM. First-day rent payments dipped across all asset classes, each hitting post-COVID lows. The House of Representatives approves $50 billion in emergency rental assistance. October 1st rent payments slipped the same day as the passage of a new $2.2 trillion package, a reduced version of the…
The pandemic has impacted multifamily in a range of ways, and all operators face a unique set of challenges. While the economic effects of the pandemic hit Class C residents notoriously hard, all asset classes have been affected by different market forces. For example, Class A apartments have been especially hard-hit by renter movement away…
Percent of September 1st rent collected dropped 2 percentage points MoM. Percent of renters who paid full rent on first-of-month hit a new post-COVID low. First-day rent payments dipped across all asset classes. On the heels of a federal eviction halt issued by the CDC, September 1st rent payments have slightly weakened. While President Trump…
In the multifamily world, search trends have been useful in understanding what renters want when it comes to amenities, geographical location, pricing, among other factors. As the pandemic reshapes life as we know it, search trends indicate how renters’ expectations are changing. The market is shifting — renters want modern experiences that make life easy,…
August 1st rent payments are slightly above the pre-COVID average. Percent of renters who paid full rent has hit a new post-COVID low for first-of-month. Class C rent payments saw a healthy boost after a shaky start in July. Negotiations about the extension of federal unemployment benefits have dominated the headlines lately, as the ability…
Leasing season is upon us, but this year, it looks different. The COVID-19 pandemic has sent shockwaves through the multifamily industry, and for most apartment operators, their leasing game is on the line. That’s why we’ve created the operator’s apartment leasing guide to help navigate the new peak leasing season and optimize your leasing strategy….
Class C rent payments dropped 17 percentage points MoM Class C residents are faring worse than both Class A & B Leads at Class C properties are up, but signed leases have tapered off Class C properties are usually the hardest hit during economic downturns, and this pandemic-caused recession is no exception. With the $600…
Renters show signs of financial insecurity, with July rent payments dipping 8% MoM. Class C rent payments are 8% lower than last month. Searches for “rent assistance” spike again as federal benefits near expiration. At the close of the July rent grace period, the impact of COVID-19 on both residents and multifamily operators is still…
July 1st rent payments return to pre-COVID levels. Renters are still seeking rent assistance as federal benefits are set to end at the end of the month. California and Texas struggle to recover, and Class C rent payments see bump from June economic boosts. Circumstances surrounding the pandemic have many wondering: who paid July 1st…
Apartment leads surged post-COVID, reaching a higher percentage year-over-year. Applications and signed leases rebounded to pre-COVID levels, but don’t match leads. Class C properties saw a strong surge in leads—higher than Class A and Class B. Class C properties had the fewest signed leases, while Class A signed leases spiked. As we move into a…
