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COMMERCIAL REAL ESTATE'S ECONOMIC ADVISORS
Independent Landlord Rental
Performance Report
Tracking rent payments to independently operated rental properties.
June 2026 Takeaways
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On-time payments came in at 83.8% in June, little changed from May’s revised estimate of 83.9%, suggesting that the recent recovery in rent collection performance has lost some momentum.
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Year-over-year, on-time collections were up 22 basis points from June 2025, ending a 34-month streak of annual declines and marking the first annual increase since early 2023.
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The forecast full-payment rate for June came in at 96.2%, down from May’s especially strong reading but still consistent with relatively firm overall payment resolution.
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The most recent observed late-payment reading came in at 12.0% in April, down from the 13.5% highs reached earlier this year, though late-payment activity remains historically elevated
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State-level performance remained uneven, with New Hampshire, Alaska, Wyoming, South Dakota, and Utah posting the highest on-time payment rates, reinforcing the broader pattern of Western and Mountain strength.
About the Report
The Independent Landlord Rental Performance report is a real-time look at how well non-institutional operators are collecting owed monthly rental payments. Utilizing data provided by property management software RentRedi, these findings have a reduced sample size of 49,745 units, which are analyzed and reported by Chandan Economics. Where sample size quality meets sufficient reporting standards, data are offered from March 2020 forward, and new trends and analyses are reported monthly. Performance trends are discussed nationally, as well as along the lines of residential property type and geography.
Notably, these data track a segment of landlords that are underrepresented in leading market samples. For example, while the National Multifamily Housing Council’s (NMHC) Rent Tracker holds an unmatched sample size (11+ million), it represents exclusively the professionally managed segment of the rental housing sector. Data contained within this report offer a contrasting set of statistics that may allow investors, brokers, academic researchers, and policymakers a benchmark to compare the performance and health of independent landlords against institutional operators tracked by NMHC.
Data Provided by:
Please cite these results as the Chandan Economics-RentRedi Independent Landlord Rental Performance Report.
