Update: The Impact of COVID-19
#7 — April 8, 2020
Rent collection continues to mirror previous months’ trends and has slowed over the past few days.

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

Our site staff continues to reach out to residents to assist with information on government support at both the state and federal levels and to insure they have needed support during shelter in place orders.

We have anecdotal information suggesting we have +/- 35 infected residents across our 227 properties. The majority of these are single reports in a site. We have 2 sites with 2 cases and 1 site with 3 cases. Residents are not required to inform us nor will health departments provide this information. We believe we have no employees infected to date.
Rent Collections:
  • We’ve collected 83% of April expected receipts:
o Cumulative receipts are down (2%) compared to Feb & Mar through the 7th. 
o Cumulative receipts are up 3% compared to Jan through the 7th.

  • In terms of types of properties or receipts:
o Resident receipts are at 81% 
  • Down (3%) compared to Feb & Mar through the 7th. 
  • Up 0.42% compared to Jan through the 7th.

o Subsidy receipts are at 89% 
  • Up 2% compared to Feb & Mar through the 7th.
  • Up 10% compared to Jan through the 7th.

o Senior total receipts are at 93%
  • Flat compared to Feb & Mar through the 7th.
  • Up 6% compared to Jan through the 7th.

o Family total receipts are at 81%
  • Down (2%) compared to Feb & Mar through the 7th.
  • Up 2% compared to Jan through the 7th.
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