May rent collection rates ended the month at 97% up for percent from the numbers we reported during the middle of last month. This high collection rate once again demonstrates that most renters continue to fulfill all rental obligations.

One of the largest hurdles over the next few months will be bridging any gap between buyers and sellers. Some buyers believe that they will get steep discounts on pricing because of COVID-19. This expectation does not match the sentiment of sellers or the current data as collections remain high, vacancy remains low, and rents remain relatively unchanged. As we keep in close contact with lenders and MMCC, we have found there to be many sources for debt with the only caveats being tighter credit requirements.