COLORADO SPRINGS — While some Coloradans are unemployed as some businesses remain shutdown because of the coronavirus, a new report from the Colorado Apartment Association shows over 80% of renters were able to pay their April rent.
Forty-four housing communities with more than 80,000 units took part in the poll, according to the association. They said this marks an increase from rent paid in January and February of this year.
News5 spoke with someone with the Colorado Apartment Association who shared that they understand this is a really challenging time for people. So, they're focused on communities coming together to try and find ways for people to be able to pay their rent.
The association said there were 16.4% of renters who were late on their payments as of April 6.
“Although this delinquency rate has increased, it is encouraging to learn that over 80% of Colorado residents who rent took personal responsibility to pay their monthly rent in the midst of the COVID-19 crises,” Mark Williams, executive vice president of the Colorado Apartment Association, said in a release. “Our organization understands that the economic impacts of COVID-19 are still unfolding.”
Because of that, renters who think they will have trouble coming up with May's rent are asked to contact their housing provider as soon as possible to help come up with a plan.
One of the most important things to do as a renter right now is to communicate with your housing provider sooner rather than later. The association said the housing providers can work "to develop lease amendments for waived late fees, freeze rent increases, individual payment plans and options for early lease terminations" if necessary.
"It's really important that if you can pay your rent, you pay your rent so that those resources are left for others who are in dire financial situations." Michelle Lyng with the CAA said.
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