Rent is traditionally due on the first of the month, and with each passing month more tenants are becoming late on their payments.
As of April 26, 91.5% of renters in professionally managed buildings had made full or partial payments. That compares with 95.6% during the same period last year, according to the National Multifamily Housing Council.
Rent is traditionally due on the first of the month, and more tenants are becoming late on their payments.continue to mount, with rising job losses and falling consumer confidence. As of April 26, 91.5% of renters in professionally managed buildings had made full or partial payments. That compares with 95.6% during the same period last year, according to the National Multifamily Housing Council.
Walker & Dunlop is one of the nation's largest commercial lenders with a $95 billion servicing portfolio, largely consisting of multifamily apartment buildings. There are more than 2 million apartment units in its portfolio, and CEO Willy Walker says his people are in contact with apartment owners and operators daily. So far, he said, just 1% of owners have asked for help on their commercial loans, but Walker is a realist.
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