Payton Legal Group
More Americans are missing their rent payments
The National Multifamily Housing Council (NMHC) reported that 79.2% of apartment households made a full or partial rent payment by February 06 in its survey of 11.6 million units of professionally managed apartment units across the country.
The share of those who paid rent was down 1.9% (216,479 households), according to NMHC’s Rent Payment Tracker. This is compared to 76.6% that had paid by January 06.
“As we approach almost a full year of navigating the pandemic and the resulting financial distress, we remain encouraged by the COVID relief package passed at the end of 2020 that included critical support for apartment residents and the nation’s rental housing industry such as $25 billion in rental assistance, extended unemployment benefits and direct payments,” said NMHC president Doug Bibby. “However, as lawmakers consider further relief legislation, additional support for renters is clearly needed.”
NMHC estimates that landlords lost around $27 billion to nearly $60 billion of rent in 2020 due to the pandemic.
“In the coming days and weeks, we urge members of Congress to pass legislation that directly meets renters’ basic financial hardships, protects the nation’s rental housing industry and efficiently provides funds to those who need it most,” Bibby said.