The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 91.3 percent of apartment households made a full or partial rent payment by July 20 in its survey of 11.1 million units of professionally managed apartment units across the country.
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Rents are rebounding as new lease volumes have surged. In the week ending June 20, total new lease volumes were up a remarkable 18.6% compared to the same time last year in the same-store dataset.
The owner of one of the biggest apartment complexes in the Chicago area has refinanced the property with a new mortgage, pocketing nearly $46 million in the process.