The study is based on a survey of more than 2,500 rental property owners, including those in Philadelphia.
A new August, 2021 study authored by Harvard University that includes research by an associate professor at the University of Pennsylvania finds what Hapco Philadelphia members already know: many landlords across the country are in dire financial straits.
Among the findings:
- The share of landlords collecting 90 percent or more of yearly rent fell 30 percent from 2019 to 2020.
- Ten percent of all landlords collected less than half of their yearly rent in 2020, with smaller landlords (1-5 units) most likely to have tenants deeply behind on rental payments.
- While instances of severe non-payment grew the most for mid-sized owners, small owners had the highest exposure to deep tenant arrears because they were more likely to face this challenge prior to the pandemic.