This week’s roundup digs deeper into COVID-19 impacts on single-family rentals, apartment turnover and construction activity. First, NMHC provides an update to its Rent Payment Tracker, noting that 89% of households surveyed were able to pay full or partial rent by April 19. Next, NREI analyzes why the single-family rental sector is well positioned to rebound from any pandemic impacts, due to factors like households choosing to rent versus own a home. RealPage discusses the unusual and abrupt change in seasonal renter turnover trends, as many residents are sheltering in place or canceling move-out plans. Then, Zumper takes a look at how COVID-19 is affecting rental market practices, including how frequently people are online searching for apartments and taking virtual tours. Finally, Multi-Housing News offers insights on how the Seattle market is fairing during this outbreak, and the importance of the metro’s strong fundamentals in order to recover.

NMHC Rent Payment Tracker Finds Rent Payment Rate at 95% of Prior Month

NMHC – April 22

“89 percent of apartment households made a full or partial rent payment by April 19 in its survey of 11.5 million units of professionally managed apartment units across the country, up 5 percentage points from April 12.”

Single-Family Rental Sector Poised for Strong Rebound

NREI – April 20

“Some investors raise concerns on rental revenue and occupancy rates, but the sector should be well-positioned over the long term.”

 Apartment Resident Turnover is Way Down Due to COVID-19 … That’s Good and Bad

RealPage – April 21

“Retention is easy now when no one wants to move, but once social distancing rules subside some, it’ll become more challenging, and active virtual engagement programs help move the needle.”

 Q1 2020 & COVID: A Look Into The Rental Market

Zumper – April 21

“Comparing data from the last week of March to the first week of April, we’ve seen an increase in demand overall, as Google Search volume grew 10% and Zumper traffic climbed 12%.”

 A Developer’s View on Seattle’s Multifamily Market

Multi-Housing News – April 21

“Washington is among the few states in the country that defined residential construction as nonessential during the worldwide health crisis, which has forced developers to cease activity at all construction sites until May 4.”