The on-time payment rate for single-family rentals dropped to 85.3% in August 2024, marking its lowest point since September 2021, according to the chart below from Chandan Economics. This decline reflects a potential shift in tenants’ financial situations, as the rate had generally been stable over the past two years. Landlords, especially independent operators, may now face increased challenges maintaining cash flow as timely rental payments become less consistent.
The chart below highlights the historical fluctuations in rental payment punctuality, showing that single-family rental payments were on a recovery trend from earlier dips in 2020 and 2021. However, the latest figures suggest renewed pressures on tenants, possibly due to inflation or rising household costs. Landlords will need to keep a close watch on this trend as it could signal deeper issues in the rental market.
Rental Payment Tracker – On-time Payment Rate by Property Type
(click on chart for live, interactive chart with up to date data)
