May Becomes One of Best Months for Rent Collection During Pandemic

The number of U.S. apartment dwellers paying full or partial rent increased from April to May to one of the best figures during the pandemic, a signal of increasing recovery from the economic hardship since the onset of the health crisis.

Roughly 80% of renters paid full or partial rent payments by May 6, according to the latest rent payment data from the National Multifamily Housing Council. The Washington-based apartment advocacy and research group surveyed 11.7 million rented units throughout the United States.

This month’s figure is an increase from the 79.8% of renters who had made full or partial rent payments by April 6.

May is the second-highest rent collection month of this year after March, when 80.4% of renters made full or partial payments before March 6. It is the fifth-highest rate of collection for the 14 months of rent payments during the pandemic, according to NMHC.

“With more and more vaccines being administered, job creation on the rise and tens of billions in rental assistance being distributed to residents and housing providers in need, the outlook for the industry is a positive one,” Doug Bibby, president of the National Multifamily Housing Council, said in a statement.

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