1. The on-time payment rate in independently operated rental units improved by 129 bps between May and June, rising to 78.1%.

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2. Gateway markets have maintained higher on-time payment rates than units located elsewhere for six consecutive months through June 2022.

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3. Sun Belt rentals underperformed the rest of the US for three consecutive months, including by 65 bps in June 2022.

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4. 2-4 Family rentals maintain the highest on-time payment rate of all sub-property types in June, coming in at 82.0%.

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5. Mid-priced rentals ($1,500-$2,499) continue to outperform all other price points.