The National Multifamily Housing Council found that 80% of apartment households made a full or partial rent payment by May 6 in its recent survey of 11.4 million units of professionally managed apartment units across the country
reported Friday, which is the most sudden and largest decline since the government began tracking the data in 1939.
Many renters are facing a financial bind because the $2 trillion federal rescue package gives fewer protections to residents in multifamily housing than it does for homeowners. The CARES Act stimulus package requires mortgage servicers to provide forbearance — a temporary postponement of payments — to any homeowner with a federally-backed mortgage.
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