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April 9, 2020

Residential rent payments plunge in April; more concessions reported

Real Estate Editor

The National Multifamily Housing Council reported Wednesday that monthly apartment rent payments had dropped 12% in April, compared with March. The NMHC Rent Payment Tracker is a weekly bulletin for the multifamily market. It culls data from Entrata, MRI Software, RealPage, ResMan and Yardi.

Those sources cover about 13.4 million units nationwide. Reports don't distinguish between full and partial payments, as NMCH acknowledges. Thus, it says, if a renter made four partial weekly payments to cover the full rent, that's only counted once.

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