May 18, 2024
NewsOne-Third of Apartment Renters Didn't Pay April Rent, Construction Faces Delays

One-Third of Apartment Renters Didn’t Pay April Rent, Construction Faces Delays

  • The National Multifamily Housing Council (NMHC) found a 12-percentage point decrease in the share of apartment households that paid rent through April 5, in the first review of the effect of the COVID-19 outbreak on rent payments.
  • Fifty-five percent of firms with ongoing projects said they were already facing delays when surveyed between March 27 and April. As yet, 42% of construction firms surveyed report no delays, with 3% offering no opinion, according to the NMHC, which surveyed 135 companies.
  • One-third of renters in America were unable to pay their April rent, bringing to light the scope of the economic impact that the Coronavirus is taking on the average American. Data released by the National Multifamily Housing Council and a consortium of real-estate data providers are scheduled to issue a report on Wednesday regarding the toll that the Coronavirus has had on the economy.

    Only sixty-nine percent of tenants paid their rent between April 1st-5th, compared with eighty-one percent ...

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