Colorado Apartment Association Reports September Increase In Rent Collection

DENVER (CBS4) - Colorado's rent collection increased slightly in September, according to the Colorado Apartment Association. As of Sept. 20, 95.1% of Colorado renters made their payment, compared to 94.7% of renters by Aug. 20.

Colorado rent payments have outperformed national rent payments in every month since April, according to the National Multifamily Housing Council's Rent Payment Tracker, which found 90.1% of apartment households paid rent by Sept. 20.

CAA reports Sept. rent collection in Colorado is down 1.7% from 2019. Across the country, rent collection is also down 1.7% from last year.

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Colorado's eviction filing rate also remains low. The apartment association reports 1,598 eviction filings in Aug. 2020, compared to 3,244 filings in Aug. 2019. So far this month, CAA has recorded 1,617 eviction filings, compared to 2,547 during the same time period in 2019.

"Low eviction filings and strong rent collections tells us Coloradans are continuing to make rent payments a priority in a trying time," said Mark Williams, executive vice president of the Colorado Apartment Association. "Our members, who represent 75% of the rental properties in the state, are helping residents and housing providers take advantage of payment options and use resources such as the state's EHAP and POP programs for relief following COVID-19 impacts. It's inspiring to see strong, collective efforts to keep Colorado's residents in their homes and housing ecosystem working as it should."

In July, Colorado launched a housing assistance program, which allocates nearly $20 million in federal CARES Act Funding for Coloradans facing financial hardship during the pandemic. To find out if you qualify, visit cdola.colorado.gov/rental-assistance.

The Colorado Apartment Association has also partnered with the Resident Relief Foundation to provide resources for people struggling to pay rent. So far, the fund has raised more than $150,000 for Coloradans.

The Apartment Association has assembled a list of more than 100 COVID-19 resources for Coloradans, which can be found here.