In 2020, as expected, landlords receiving full rent payments gradually decreased month over month as the pandemic surged. However, in 2021, reflecting improving economic and public health, landlords receiving full rent payments began to recover and trend upwards.
In order to look at this trend more closely, TurboTenant has released its State of the Rental Industry Report 2021. Utilizing survey data collected from landlords and renters throughout 2021, the report includes an in-depth analysis of rental industry trends related to rent payments, evictions, rent relief, and more.
A few key findings:
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By December of 2021, Colorado landlords received the most rent payments at 88%, an increase of 20% since January, while New York landlords had the most missed payments at 28%, a 40% increase since January.
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In December, 17% of landlords said they had filed for eviction due to nonpayment of rent – the highest percentage that has answered yes to filing an eviction during 2021.
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For every month of 2021, when compared to landlords with 5-10 units, 11-20 units, and 21+ units, landlords with 1-4 units received the most amount of full rent payments and simultaneously the most amount of missed rent payments.
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Since April of 2021, over 50% of renters reported monthly they were unaware of federal or state emergency rental assistance programs.
Download the full report here.
