Affordable Housing Rent Payments Increase

More tenants in affordable housing made payments in October than in any month since early in the pandemic, according to a report released Monday by MRI Software. MRI’s report found: Rent payments increased to 82 percent of the prior year, the first month since June since the rate was over 80 percent.Collections in public housing dropped slightly in October to 94 percent year over year, compared to 98 percent in September. Move-outs in affordable housing decreased by 17 percent year over year, leading to higher occupancy rates for the sector.Move-ins, at 92 percent of last year’s volume, affected the rates to a lesser extent. “The pandemic will continue to affect trends in both sectors,” said Brian Zrimsek, Industry Principal at…