More than 95% of Colorado renters paid this month's rent by June 23, according to RealPage, a data analytics firm for the real estate industry.
Colorado's rent collection rate of 95.4% was the ninth-highest among the 47 states that reported sufficient data, RealPage found. Colorado Apartment Association said the data from RealPage matched its own rent collection estimates, which the group collects through surveys of apartment portfolio managers across the state.
“We continue to see strong rent payments in the fourth month after the coronavirus shutdowns began," said Mark Williams, executive vice president of the CAA, in a release. "This is a sign that Colorado renters and housing providers both are committed in identifying payment solutions for those residents being impacted by the crisis."
This June's rent collection percentage is slightly less than last year's 96.1%. The National Multifamily Housing Council reported that 94.2% of apartment households across the country made a full or partial rent payment by June 27. Williams said he's more optimistic than those that are predicting mass evictions in the coming months, pointing to the high rent collection rates through the first months of the pandemic and Colorado's strong economy in recent years.
A June 13 executive order from Gov. Jared Polis allowed the eviction process to resume after a statewide moratorium on evictions that began in May. The new order requires landlords to give tenants 30 days to pay back rent before proceeding with an eviction. Under normal circumstances, landlords only need to give most renters 10 days' notice.
Housing advocates and policymakers in Colorado have voiced concerns that evictions will spike as the country's economic woes stretch on and federal coronavirus unemployment insurance, which pays an additional $600 a week to jobless workers, expires July 31.
The latest Household Pulse Survey from the U.S. Census Bureau estimates that 567,846 Coloradans, or 16.3% of the adult population, are housing insecure, meaning they missed last month's rent or mortgage payment or have slight or no confidence that their household can pay next month’s rent or mortgage on time.
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