The Colorado Apartment Association Reports Over 80% of Colorado Residents Paid April Rent

DENVER (April 8, 2020) – The Colorado Apartment Association today reported that 17.3% of residents
were late on rent as of April 6. The results came from a rent collection poll to which 44 housing
organizations responded representing approximately 80,000 units throughout Colorado. This represents
an increase from January and February’s rents, prior to COVID-19.

“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,” said Mark Williams, executive vice president of the Colorado Apartment Association. “Our
organization understands that the economic impacts of COVID-19 are still unfolding.”

Residents are continuing to experience job furloughs, and some residents may not receive a paycheck in
April. As such, the CAA encourages any resident who has been impacted by COVID-19 job loss to reach
out to their housing provider immediately for financial assistance options. In addition, the CAA has
provided resources for renters who are directly impacted by COVID-19 either by job loss or illness.
Housing providers are willing to work with residents impacted by COVID-19 to develop lease
amendments for waived late fees, freeze rent increases, individual payment plans and options for early
lease terminations. Residents anticipating delays with May rent payments should start the conversation
with their housing provider today to find resources to help them pay May rent or to reach an agreement
with their housing provider before May arrives.

“We applaud all Colorado renters who paid April rent. These payments allow housing providers to cover
mortgage costs, pay employees, compensate vendors, and maintain rental properties. Every resident’s
contribution makes a difference and allows our resources to be used for the people in our communities
who truly need help.”

A list of financial resources for residents can be found here:
https://www.aamdhq.org/news/coronavirus.

About the Colorado Apartment Association
The Colorado Apartment Association (CAA) is a non-profit trade association representing owners,
developers, management companies, and vendors of the multifamily rental housing industry. CAA is
comprised of four local affiliates from across the state. The association represents over 3,100 members
who own and manage over 282,000 apartment homes, which totals more than $60 billion in assets.
Together with the local affiliates, the National Multifamily Housing Council, and the National Apartment
Association (NAA), CAA offers a strong network of information, education and representation of the
multifamily housing industry.