We’ve been hearing lots of worrisome stories about renters having to pay rent with credit cards due to COVID-19 financial fallout. Data are beginning to reflect the trend. 1/

Zego, a credit card payment processor, reports a 31% increase month-over-month in credit card rent payments from March to April, and another 20% increase from April to May.

Management companies that covered credit card processing fees (instead of passing that cost to tenants) saw a *117%* surge in credit card payments from March to April, and another 18% increase in May.

Zego says, “due to a shortage of cash during these uncertain times, residents have relied on credit cards to pay their rent two months in a row.” https://www.gozego.com/articles/may-rent-payment-data-reveals-april-trends-have-continued-as-a-result-of-covid-19/

Entrata (a property management software company) reports 17% of renters paying rent w/credit card, a 5% increase from this time last year. MRI (another property management software) reports a 7.3% increase in credit card rent payments from March to April.

Paying rent with credit cards or with one-time stimulus checks is unsustainable. Congress must enact critical housing provisions from the HEROES Act, including $100B in emergency rental assistance, ASAP. We need #RentReliefNow.