May 20, 2020
Rent collections in Chicago’s mid-market apartment sector are holding up at a rate comparable to the collection rates of institutional owners, according to a Kiser Group survey of its clients. The brokerage firm surveyed owners of more than 14,000 units across the Chicago metro area with data-related questions, one of which was residential collection rates in March, April, and May.
“The survey results regarding rent collection indicate continued strength,” said Kiser Group principal Lee Kiser. “Rent collection exceeding 80% was reported by more than 94% of respondents for March and April, and May rent collections above the 80% threshold are actually slightly higher at 95% of respondents.
“We saw plenty of headlines and commentary from institutional sources speculating the sky might be falling; however, we have always understood the strength of the mid-market and now have data to substantiate its resiliency,” he added.
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