Update: The Impact of COVID-19
#8 — April 9, 2020
Rent collection continues to slow, as expected, and continues on trend.

We have COVID-19-related payment arrangements with just over 2% of our resident population.

Site staffs are working to engage and help residents in novel ways:

  • At senior property, residents and staff “gathered” on balconies and recited the Pledge of Allegiance and sang the Star Spangled Banner. The Mayor and several police joined for the occasion.

  • Staff at a family property gathered donated pet food for residents’ animals.

  • Staff at a senior property organized a pen pal relationship with local grade school children.
Rent Collections:
  • We’ve collected 83.9% of April expected receipts:
o Cumulative receipts are down (2%) compared to Feb & Mar through the 8th. 
o Cumulative receipts are up 2% compared to Jan through the 8th.

  • In terms of types of properties or receipts:
o Resident receipts are at 82% 
  • Down (3%) compared to Feb & Mar through the 8th. 
  • Up 0.1% compared to Jan through the 8th.

o Subsidy receipts are at 90% 
  • Up 3% compared to Feb & Mar through the 8th.
  • Up 9% compared to Jan through the 8th.

o Senior total receipts are at 94%
  • Flat compared to Feb & Mar through the 8th.
  • Up 4% compared to Jan through the 8th.

o Family total receipts are at 82%
  • Down (2%) compared to Feb & Mar through the 8th.
  • Up 2% compared to Jan through the 8th.
In an attempt to share what we know and are doing during this crisis, we are publishing a set of periodic updates for our partners and friends in affordable housing. We likely will do this twice a week or as interesting events dictate. Please let us know if you would like to be removed from this list.
Thank you,
Paul Sween & Mark Moorhouse