Glossary term
Delinquency
Delinquency is rent or other charges that residents owe but have not paid by the due date. It cuts into the income a property actually collects.
Delinquency is the unpaid balance on resident accounts. It is often tracked as a percentage of billed rent, and by how late the balances are, such as 30, 60 or 90 days.
High delinquency lowers economic occupancy and NOI. If amounts are never collected, they become bad debt and are written off.
Managers limit delinquency with careful screening, clear lease terms, simple payment options and early, consistent follow-up that follows the law.
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