2020-04-08 — yahoo.com
New data shows that one-third of Americans did not pay April rent before the due date.
About one in 10 renters have secured rent forgiveness or reduction plans in response to COVID-19-related job loss, said the study by Clever, which found that 23% of renters surveyed did not pay April rent on time.
When Avail, a tenant management platform based in Chicago, asked what renters would do if they could not pay rent, 35% of renters said they would borrow the money, 6% said they would use a credit card, and 6% said they would take out a loan, according to a sample of 20,000 rental units nationwide.
But some 32% said if they couldn't afford rent, they would simply stop making payments, according to Avail in a separate survey of 7,379 renters. Tenants who have not communicated with their landlords will be the most at risk, experts say.
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