As the last year has unfurled we have been shown just how difficult predicting market trends can be with dramatic shifts in renter demands and unexpected mass migration from city centers causing rent prices locations like New York and San Francisco.
Landlord Studio data shows the average occupancy
rates dropping approximately 2% between October and
February 2021, falling below 95% for the first time in over two years.
With a 7% decrease in on time rent between May and October this latest wave of data, shows the clear impact of COVID-19 and increases in unemployment on rent collection trends as well as the impact of various mitigating factors like the CAREs Act.
Despite the many hardships that 2020 has thrown at us so far there has been surprising stability in the rental market. This report looks at rent collection trends in the US as COVID-19 continues to unfold, and the impact of current financial and economic policy on the residential rental market.