Update: The Impact of COVID-19
#3 — April 3, 2020
  • Stunningly, we appear to be holding steady with rent collections, although we are in the early innings of this process.  

  • We have not yet seen distinctions in the type or location of properties relative to rent collections.

  • Sadly, we are starting to see the effects of long-term shelter in place orders with increased calls for domestic and other kinds of violence at some properties. We had a murder at a TX property, with a community manager as a witness.
Rent Collections:
  • April 2 rent collections continued the on-par-to-ahead trend that we saw yesterday, compared to February and March collections for the same date.

  • Cumulative total for April is up 12% over previous months’ average. 

  • As of April 2, collections are up at 68% of properties.
In an attempt to share what we know and are doing during this crisis, we are publishing a set of periodic updates for our partners and friends in affordable housing. We likely will do this twice a week or as interesting events dictate. Please let us know if you would like to be removed from this list.
Thank you,
Paul Sween & Mark Moorhouse