Rent collections improve as New York reopens
July 23, 2020 | Real Estate Weekly
The slow reopening of the economy in New York City appears to have led to a slight improvement in residential rent collection for July, although it is still below normal.
The Community Housing Improvement Program (CHIP) has been surveying its members in the middle of each month since April, and each month they have reported that roughly one quarter of their residential tenants did not pay any rent by the middle of the month.
In CHIP’s July survey, the number improved to 17.72 percent of residential tenants who have not paid any rent.
