Sept. Rent Collection - Disaster or Successful?

[Francois G.]

Hey BP,

As we're almost midway through September, I'm curious to see how landlords across the country are dealing with rent collections this month so far.

It's a difficult time for landlords with the eviction moratorium extending and millions of jobless Americans no longer receiving the extra unemployment benefits. Has this impacted your rent collections this month?

The feedback I've gotten so far between my clients/friends/professional network has been a mixed bag. One landlord with 8 doors is at 100% collection for Sept while another with 3 doors is at 0% (to be fair and objective, 2 of the tenants were problem tenants pre-pandemic).

IMHO (could be wrong, won't be the first/last time), I see rent collection becoming much difficult in the coming months. It's more important now than ever to PROPERLY screen your tenants. People know they can't get evicted and will hold you hostage with non-payments once they get the keys. Screening tenants was always important but it's even more important to your business now more than ever.

September is really the first month post-pandemic where bills/rent/mortgages/etc. have to be paid without significant government assistance so I'm interested to see how you're tenants are treating it.

Thanks in advance!