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Rent collection in affordable housing continues to lag as the pandemic wears on, according to the latest report from Proptech firm MRI Software<\/strong> (“MRI”). Year-over-year collection rates in public housing remain comparatively high. Meanwhile, tenants in both sectors are staying in place. <\/p>\n MRI’s report compiles data from more than 1.5 million affordable and public housing units throughout the U.S. in January-August 2020<\/span> and January-August 2019<\/span>. Analysis comprises both year-over-year and month-over-month comparisons. <\/p>\n Highlights of the findings include: <\/p>\n Brian Zrimsek<\/span>, Industry Principal at MRI Software, <\/strong>attributes the divergence between rent collection rates in affordable and public housing to the deeper rental subsidies provided in public housing. A wide range of factors will determine whether the collection rates in affordable housing improve: Among them are governmental assistance, vaccine availability, virus control, unemployment, and reopening. <\/p>\n One factor contributing to tenant stasis is lockdowns, especially in larger urban areas, where many affordable and public housing sites are located. Zrimsek notes, however, that applications and moves are down not only in affordable and public housing, but also in conventional housing. “If economic pressures persist across asset classes, we could see increased demand for affordable and public housing from tenants now in market-rate housing and even from homeowners,” he says. <\/p>\n In Zrimsek’s view, there is one certainty amid all of the uncertainty: “The demand for affordable housing will not abate.” <\/p>\n About MRI Software MEDIA CONTACTS:<\/strong><\/p>\n (U.S. for MRI) (U.K.) Platform Communications for MRI Tags:<\/b> Rachel Antman\u00a0(+1 212-362-5837)\n
<\/strong>MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit mrisoftware.com.<\/p>\n
<\/strong>Rachel Antman<\/span><\/strong> (+1 212-362-5837)
rachel@saygency.com<\/p>\n
PJ Chou<\/strong> (+44 20 3219 5837)
Zoe Mumba<\/span><\/strong> (+44 <\/strong>7725 832393)
or Hugh Filman<\/strong> (+44 7905 044850)
mri@platformcomms.com<\/p>\nSee Campaign: <\/strong>http:\/\/mrisoftware.com.<\/a>
Contact Information:<\/b>
Rachel Antman(+1 212-362-5837)
\nrachel@saygency.com<\/p>\n
<\/a>, Wire Real Estate<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n
\nrachel@saygency.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"Rent collection in affordable housing continues to lag as the pandemic wears on, according to the latest report from Proptech firm MRI Software (“MRI”). Year-over-year collection rates in public housing remain comparatively high. Meanwhile, tenants in both sectors are staying in place. MRI’s report compiles data from more than 1.5 million affordable and public housing units throughout the U.S. … Continue reading Rent Collection in Affordable Housing Continues to Lag, Says Latest Report from MRI Software<\/span><\/a> Continue Reading