How Residents Are Dealing w Questions about Paying the Rent, Re-Opening the Economy

Reports about the percentage of apartment residents who have paid their rent on time despite many dealing with economic struggles brought on by Covid-19 have been valuable to multifamily operators.
One apartment research firm has gone one step further – it asked the residents themselves.
J Turner Research surveyed more than 3,700 renters April 23-30 to estimate rent collection for May. It was able to predict rent collection of 80.8 percent for May. (J Turner’s 80.8 percent mark counts as 72.22 percent to be paid on the 1st and 80.8 percent to be paid by the 10th).
That 80.8 came within a percentage point of actual rent receipt of 80.2 percent as of May 6, as reported by the National Multifamily Housing Council (NMHC)’s Rent Payment Tracker.
NMHC’s calculation is based on 11.2 million units nationwide, so statistically, this sample size proved to be a pretty significant reading.
Number of Residents Laid-Off
J Turner’s report includes facts and opinions based on their personal employment situation and the economy.
The percentage of renters who have had their pay reduced is 6 percent; had their hours reduced (16 percent); suffered both (10 percent) and was not affected (68 percent).
Fifty percent of residents who indicated they had been furloughed/laid off said they would be able to pay the rent for May on time.
As for their state re-opening its economy, nearly 51 percent chose “no; it’s better to be safe than sorry,” 41 percent prefer opening the economy in phases and 8 percent selected “open ……