POLL: Rent delinquencies, January 2021.

30 Replies

Approximately $9.75B in rent payments were late or unpaid in the US multifamily sector, this month.

What's the percentage of your units that are late/didn't pay rent this month?

Examples:
- less than 15%
- 10%-25%
- 25%-50%
- 50%+

Updated about 1 month ago

Approximately $9.75B in rent payments were late or unpaid in the US multifamily sector, this month. What's the percentage of your units that are late/didn't pay rent this month? Examples: - 0% - less than 10% - 10%-25% - 25%-50% - 50%+

My 12 vegas properties all paid. My 1 MN property also paid. 2020 was a great year for rent collection and rent increases. Hopefully 2021 is just as good, I have 4 leases ending in 2021 and plan to raise all rents as demand is insane for SFR here and inventory is super tight.

Glad others are having better luck.  We did not have a great 2020 and January 2021 is 10%-25% delinquent.  In addition to unpaid rent, almost all tenants have doubled their water usage, which is included in rent.  Still feel blessed, no threat of losing properties like others in our state, but irritated that the delinquencies are not due to COVID, just poor eviction moratorium policy.

@Alex Pelin the "less than 15%" seems way WAY high for a lowest option. We are sitting here a bit up from a couple months ago at 3% (3.2% to be accurate). Although some payment options just kicked in and I have had some catch up on balance and come current again so it's looking like will get closer to 2% again. 

I can't imagine being at 15%, that would be a 4-alarm fire in my world, totally freaking out. 

I would suggest lowest rung a 0-3%, 3-5%, 5-10%, 10%+. If over 10%, there is massive problems requiring focused significant actions. 

@Michele Fischer have you made a list of payment assistance programs, including links to applications/sites and sent to tenants? Sending newsletter with financial education 4-tenants reviewing negative impact potential of an accruing rental balance and fallout from eventual default & following legal actions from such? Meeting with atty. to review actions such as civil suites with judgement award? 10-25% is a MASSIVE rate, horrific really. 

@James Hamling , I agree. I was multitasking yesterday when I posted this :)
The post was meant to include a 0% option and it should've had less than 10% instead of 15%. 
I do believe your breakdown makes more sense: 0-3%, 3-5%, 5-10%, 10%+. 

Thanks for the note!

Originally posted by @Alex Pelin :

@James Hamling, I agree. I was multitasking yesterday when I posted this :)
The post was meant to include a 0% option and it should've had less than 10% instead of 15%. 
I do believe your breakdown makes more sense: 0-3%, 3-5%, 5-10%, 10%+. 

Thanks for the note!

 Great topic and conversation piece, will be interesting to see where it goes. I am curious to know for those with average rates, what if anything they can point to as an action that has helped for the good fortune. And for those in troubled waters, what have they tried doing to help? Would be interesting if any common threads come to light of action/inaction.