Among the coronavirus pandemic, the National Multifamily Housing Council, an apartment industry trade group, has reported that almost one-third of Americans didn’t pay rent in the month of April. However, this analysis doesn’t include data from non-property management landlords and only reports rent payments made in the first five days of the month. It’s been reported that more and more landlords have been giving their tenants the ability to pay past the standard fifth of the month deadline due to the pandemic.
However, two property management software companies have some data on Oregon’s rent payments. Entrata reports that 83% of Oregon households paid rent during the first week of April. RealPage reports 82% of Oregon units paid rent. This, according to chief economist for RealPage Greg Willett, is a drop of seven percentage points compared to April 2019.
The states Arizona, Texas, and North Carolina saw larger drops than Oregon.
Rentec Direct, a property management company based in Grants Pass, Oregon, reports that of the 18,600 households they have data for, 74% paid rent on time. This is a nine percentage drop rate from March.
Economists and property management companies are expecting that people will be able to pay rent less and less as the virus spreads and unemployment worsens.
By Cara Nixon