Any drop off in April Rent collections ?
What to expect, in 2-6 months ?
How was it during the great recession of 2008-10 ?
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Received 99% of rents for April. The 1 non-payer a 22 yr old Fed-Ex worker who claims laid off.
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Close to the same percentage at my park. 98%.
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As of right now, received about 55%. A lot of customer service type tenants that live in our properties, not looking that good for us right now 
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90% collected. However, We are typically 95% and we have the same late payers every month. So, all in all, not bad.
Jon
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I received all except for two tenants out of 35 they claimed Corona also yet they received disability checks as usual. They all assume they don’t have to pay because we can’t evict! They however miss what the government says to pay first (SHELTER)!!
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Hello. How are you handling this?
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I am still going to charge a late fee if they’re not affected by the virus ,I’m speaking with my attorney about the procedures we will need to follow for these tenants that try and take advantage of the pandemic.
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Make sure you know your state mandates, you may not be able to charge late fees.
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Our April is slightly less than typical, but not so much. Interesting thing is we have evicted tenants but before sheriff could set them out, a moratorium on evictions and set outs was put in place. Now, we are even collecting payments from tenants who were already evicted. That is a first for us.
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We are planning on a 10-20% rent forbearance rate.
So far we have collected close to 75% of April 2020 rents.
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Hi folks, overall, collection percentages are not very helpful unless mentioning state/city/demographic, if you accept online payments, and if manager has made all deposits. Markets vary so much especially when it comes to types of labor.
I am primarily in central Texas. We accept online payment for all properties and have a check scanner for some. Our GM reports the following collection for the 6th. We have a senior park with 100% collections and on the other extreme we have a park in a smaller market with 80%+ collection that had folks heavily employed in the restaurant and contract businesses. Speaking with many other operators - that are in different parts of the Midwest - report similar strong collections. However, most operators agree, April is not the indicator of problems. May will reveal the issues if they are yet to come. Best wishes to everyone for collections. Note - the following resource is the best one I have come across for notices - which includes the source docs you can edit.
March 6: 20 unpaid, collection percentage 94.25%
April 6: 39 unpaid, collection percentage 90.79%
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Surprisingly enough I April rent was paid better than any time in the past 5 years and have several tenants paying in advance. This is partially because I have been doing a better job communicating and collecting before the virus hit. But the future is far from clear
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I’am at about 90% across the board.
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I have 100% but two paid quite late… they are my two normal problem tenants in the park on a good month and would use any excuse for paying late so not much surprise there. My payment system automatically assigns late fees and I can’t override it unless I am there in person to receive payment, but I will credit the late fees against next month’s fees since we are not allowed to collect late fees in TX as far as I know.
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So far so good. I’ve had zero delinquencies as a result of covid-19.