- Chandan Economics and RentRedi data show 83.2% of independent-landlord rent was paid on time in October, up 56 basis points from September and 68 basis points from a year earlier.
- Duplexes through fourplexes led at 83.9%, single-family rentals reached 83.1% and multifamily trailed at 82.5%, while the late-payment rate eased to 12.8% in August.
- State rates range from 92.6% in Hawaii to 68.8% in Mississippi, and collections remain about 5 points under the 2023 peak, so the recovery is uneven.
Independent landlords are collecting more rent on time, with on-time payments rising to 83.2% in October, according to Chandan Economics and RentRedi data.
That is 56 basis points better than September and 68 basis points ahead of a year ago, the third consecutive annual gain.
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A Slow Climb Back
September was revised to 82.7% and August stood at 82.5%. It was the third monthly increase since July’s summer low, though it still trails the 83.5% posted in April.
The rate is about 3.5 points above the 2020 pandemic low of 79.7% and sits about 5 points below the 88.2% peak of 2023. Annual declines ran past 400 basis points in several months between late 2025 and early 2026, so this fall’s comparison is easier.
Small Properties Lead
Duplexes through fourplexes posted the biggest monthly gain, rising 97 basis points to 83.9%. Single-family rentals climbed 55 basis points to 83.1%, and multifamily improved 28 basis points to 82.5%.
Multifamily remains the weakest of the three segments. In September we noted collections were improving at 83.2%, a figure Chandan has since revised down.
Late Rent Still Bites
The latest fully reported month, August, shows a 95.3% full-payment rate, made up of 82.5% paid on time and 12.8% paid late. The late-payment share eased from 13.3% in July and is well under the 15.1% of August 2025.
Eventual payment helps, but delayed rent still strains small owners who count on it for mortgages, taxes and repairs.
A Wide Spread by State
Hawaii topped the field at 92.6%, with Utah and Alaska close behind at about 92.5% and 92.3%. Oregon (91.3%) and New Hampshire (90.7%) completed the top five. At the other end, Mississippi managed just 68.8%, and West Virginia, Delaware, Alabama and Georgia all landed between 72.6% and 78.5%.
Why It Matters
Rent collection is an early read on small-landlord health, and the sample covers 60,217 units on RentRedi’s software, so it reflects independent owners rather than institutions. Chandan says high living costs and a softer labor market still limit lower-income renters, so the gains have not yet added up to a durable recovery.
Our earlier coverage found on-time rent at mom-and-pop multifamily properties gaining 170 basis points year over year in September, as falling supply tightened apartment markets.
What’s Next
Chandan sees seasonal patterns returning, with spring strength, a summer dip and an autumn rebound. Watch whether November holds the October level and whether multifamily closes the gap.
