April Rent Collection? What Percent Did You Get In?

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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

With it being the 2nd, it might be a few days early for everyone to gage this....but Im curious what percentage of your tenants paid their rent for April, and where you are located. I had 1 tenant express that he might have trouble...but he actually ended up paying. I am at 100% collected, which is actually highly unusual for this early in the month. Ive got a couple tenants that dont usually pay til the 10th or so, and Id say about half of the rest typically pay 31st/1st/2nd, and the remaining half around the 5th or so.

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Andre TaylorPro Member

Rental Property Investor · Chicago, IL · Member since 2017 · 219 posts · 180 votes

Currently out of my 12 doors. 11 has paid...the 12th is paying tomorrow. I do have 3 tenants that are furloughed but surprisngly all of them are going to get more money in unemployment then there regular pay the way the stimulus bill is set up not including the stimulus checks they are about to received. The only hiccup I foresee going into May will be if those tenants have not got their unemployment situated; right now the unemployment office is flooded with calls. I did have one tenant that paid April and May so that was cool. I am just glad that I prepared for this..all of my mortgages have a 2 month buffer ..... plus I have 6 month reserves saved. Hopefully you all are prepare. I feel after this rona is over with a lot of owners who were not prepared could be selling their properties

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Paul Smythe
Investor · Greenville, SC · Member since 2012 · 269 posts · 187 votes
6y
Ask me in a few days. 0% (0 of 10) currently, but my tenants usually pay right at or before the 5th.

I'm hopeful that we won't have much interruption, but I'd be lying if I said I wasn't a tad worried. @Russell Brazil props for getting to 100% already. Sounds like I have a few lessons to learn from you.
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Russell BrazilBusiness Member
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OP
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
Originally posted by @Paul Smythe:
Ask me in a few days. 0% (0 of 10) currently, but my tenants usually pay right at or before the 5th.

I'm hopeful that we won't have much interruption, but I'd be lying if I said I wasn't a tad worried. @Russell Brazil props for getting to 100% already. Sounds like I have a few lessons to learn from you.

I didnt anticipate everyone paying earlier than normal. I think because people are home all day every day with little to do, that that might have contributed in someway to them paying sooner than usual.
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Marlen Weber
Specialist · Plano, TX · Member since 2020 · 2k+ posts · 861 votes
6y
@Paul Smythe I am curious to know if things have turned around for you on rent collecting. Best of luck.
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Paul Smythe
Investor · Greenville, SC · Member since 2012 · 269 posts · 187 votes
6y
@Marlen Weber at 50% currently with another tenant requesting a little more time, so feeling much better at the moment. Phew
1 Reply
Bill B.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
6y
1 for 1 in MN ($2700 rent on $500k townhome)
10 for 12 in Vegas ($1200-$2000 rent on $220k-$420k SFR)
1 of the missing 2 paid 1/2 rent and the other tenant of 6 years moved out in the middle of the night without a word with a year left on lease. (Security deposit will cover make ready and approximately 60% of rent.)
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Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
6y
We have about 1,000 units under management in the greater San Antonio area. At close of business on Friday, we had collected from 81% of those. Only 2% had requested any sort of payment plan. 17% hadn't yet paid, but that was about normal for the 3rd. With our leases, most of the tenants had until midnight to pay, and many will typically drop off their payment over the weekend, when it falls on a Friday. This is pretty close to an average month so far, but we'll see what happens tomorrow. Overall, this was much better than many predicted.
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James De Stefano
Real Estate Agent · Houston, TX · Member since 2017 · 292 posts · 233 votes
6y
Very positive to hear so many tenants doing the right things and paying. I would imagine there are people saving well over $100 / week because they can't go out and spend money on drinks/ restaurants, sports events ( $12 beer anyone? )
Let's see how April treats us...
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Jonathan Farber
Rental Property Investor · Medellin, Colombia · Member since 2016 · 231 posts · 215 votes
6y
@Russell Brazil - so far so good. One tenant my need a payment plan but we sort of expected it based on his situation. Just doing our best to over communicate.
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Karl B.
Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
6y
Currently all but two have paid. I know the one remaining PA renter will pay (he's golden and has savings) and there's one MO rental who hasn't yet paid (it's literally four young professionals in a huge 2600 sq.-ft. unit - I'm confident they'll pay also but we shall see).
Both are due on the 5th so here's to getting that rent check in my P.O. boxes.
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Joshua Mellor
Rental Property Investor · Canandaigua, NY · Member since 2019 · 57 posts · 36 votes
6y
I'm from upstate NY and 1 tenant was late he pays on a 2 week schedule. 2 tenants paid on time and I actually moved 2 new tenants in on the 1st of the month. The late tenant has worked out a schedule to pay and I have decided to forgo a late fee if he pays it all by the date we agreed on.
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Matt Leber
Rental Property Investor · Orlando, FL · Member since 2015 · 353 posts · 269 votes
6y
45% at this time. Its enough to cover the PITI on all of my properties, but so far I'm only 3/7 on collection. I'm hoping at least 1-3 more should pay on Monday bc they never pay until the 5th or 6th. I have been in contact with the late ones and lucky to be in a position to allow them a longer grace period to figure things out while the stimulus comes in.
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John Teachout
Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
6y
We've only been paid 28% or our rent roll dollar wise and about 34% by number of doors. One house has been chronically behind, another two usually pay mid month (by arrangement). Someone else said they had about 75% of the rent. I told them to pay that and I wouldn't charge late fees on the remnant. They didn't pay anything. I have one western union money order "in the mail" supposedly. This is a newish tenant to us but she's been in the house over a decade and is laid up after surgery. Another property is brand new and crickets from them. Yet another brand new property no payment but they told us it would be late as they didn't receive their last paycheck before they were laid off. I do believe they'll pay as they're currently painting the interior (with paint supplied by us) Another property has chronic late payment issues but they'll pay eventually but they usually communicate and nothing this time. (I send a rent reminder if we get nothing by the 4th). We have a mortgage we're holding and that payment came in. We don't have unpaid bills but the amount that came in is not adequate for the long term.
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Andre TaylorPro Member
Rental Property Investor · Chicago, IL · Member since 2017 · 219 posts · 180 votes
6y
Currently out of my 12 doors. 11 has paid...the 12th is paying tomorrow. I do have 3 tenants that are furloughed but surprisngly all of them are going to get more money in unemployment then there regular pay the way the stimulus bill is set up not including the stimulus checks they are about to received. The only hiccup I foresee going into May will be if those tenants have not got their unemployment situated; right now the unemployment office is flooded with calls. I did have one tenant that paid April and May so that was cool. I am just glad that I prepared for this..all of my mortgages have a 2 month buffer ..... plus I have 6 month reserves saved. Hopefully you all are prepare. I feel after this rona is over with a lot of owners who were not prepared could be selling their properties
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Account Closed
San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
6y
Originally posted by @Andre Taylor:
Currently out of my 12 doors. 11 has paid...the 12th is paying tomorrow. I do have 3 tenants that are furloughed but surprisngly all of them are going to get more money in unemployment then there regular pay the way the stimulus bill is set up not including the stimulus checks they are about to received. The only hiccup I foresee going into May will be if those tenants have not got their unemployment situated; right now the unemployment office is flooded with calls. I did have one tenant that paid April and May so that was cool. I am just glad that I prepared for this..all of my mortgages have a 2 month buffer ..... plus I have 6 month reserves saved. Hopefully you all are prepare. I feel after this rona is over with a lot of owners who were not prepared could be selling their properties

Off topic for a second: Andre, I love your t-shirt!
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Andre TaylorPro Member
Rental Property Investor · Chicago, IL · Member since 2017 · 219 posts · 180 votes
6y
@Account Closed thank you!! It's my saying and I wear it to my closings!! :)
2 Reply
Mark Jensen
Real Estate Agent · Salt Lake City, UT · Member since 2018 · 1 post · 3 votes
6y
@Joseph Cacciapaglia great metrics, thanks for sharing! Client of mine with 5k units had 33% collected as of Friday 5 pm, fingers crossed for tomorrow am.
3 Reply
Michael King
Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
6y
100% paid as of April 4th. One tenant has asked for a 3 month extension and 10% discount on the rent. No problem.
May and June might be questionable.
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Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
6y
@Russell Brazil I thought a couple of my tenants might need extra time but everyone stepped up. I'm 3 hrs south west of Seattle. We'll see how May goes.
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Lynnette E.
Rental Property Investor · TN · Member since 2018 · 2k+ posts · 2k+ votes
6y
Only one that did not pay is actually a storage unit and she is always a week late because she mails a money order on the first. She is older, her money comes in on the first, she uses money orders, nothing electronic, and is far away. It will come next week. And its fine with me. It works for both of us this way.
1 Reply
Polo VazquezPro Member
Real Estate Agent · McAllen, TX · Member since 2017 · 382 posts · 281 votes
6y
I just have one that asked if they could pay it in two payments to which I agreed to and another that didn't pay anything but they werent paying since before. We were in the process of evicting them when everything got canceled. She paid $200 dlls which is something
1 Reply
Satyam Mistry
Investor · Omaha, NE · Member since 2019 · 130 posts · 139 votes
6y
@Russell Brazil Fortunate to have all 4 of the occupied properties pay on time. 2 other properties that were recently acquired have secured tenants for with leases starting in May & June. Another 2 properties are being updated at the moment and should not have trouble being rented as I have not noticed a dip in interested renters. Through platforms such as BP have learned to tighten and streamline the tenant screening process.

Residences in strong neighborhoods that are updated nicely when put on market for rent can have the luxury of being able to choose from qualified tenants that have good credit, proof of income, & stability which is verified through their application, background check, & credit check as well as how they present themselves online and in person. In many cases they will have an emergency fund setup when times are difficult.
Of course it is not possible to maintain this long term with so many people being out of work, but in the short term when you have a well presented property in a A/B class neighborhood you should be able to find the type of tenants that are able to weather short term storms.
1 Reply
Account Closed
San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
6y
Originally posted by @Andre Taylor:
@Account Closed thank you!! It's my saying and I wear it to my closings!! :)

I so agree! Only one of the properties I ever bought was a condo. Couldn't wait to get rid of it. Fee Simple Rules!

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Steve Graves
Rental Property Investor · Lancaster, CA · Member since 2015 · 103 posts · 55 votes
6y
I'm in so cal and have received 100% of my rent payments this month. Never thought I'd be so happy that some of my tenants are receiving public assistance. They always pay and usually on time.
1 Reply
Joshua Myers
Rental Property Investor · Columbus, OH · Member since 2014 · 148 posts · 177 votes
6y
@Russell Brazil for April just one tenant is late, but she's late enough that I've gotten used to the late payments. I'm optimistic about getting rent from most tenants next month because they should qualify for the stimulus checks.
2 Reply
Alex Jamael
Rental Property Investor · Fredericton, NB · Member since 2019 · 16 posts · 2 votes
6y
@Russell Brazil 95.4% rent dollar percentage. One tenant I knew would have trouble and was laid off, they paid 50% and I’m doing a zero interest loan and will set up a repayment plan
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