Early December apartment rent collections have taken a tumble, according to the latest Rent Tracker data from the National Multifamily Housing Council. In the first six days of December, which is generally a strong indicator of rent collections for the month, renters paid 75.4% of rent payments, a 7.8% decrease from the first six days in November.

The decrease in rent payments is concerning, although NMHC says that only the full month will provide an accurate picture of rent collection trends. However, the decrease comes as the pandemic has surged nationally and some markets have entered a critical phase of the coronavirus outbreak. This has also put more pressure on businesses, employment and individual economic resources.

December 5 and 6 also fell on a weekend this month, which could have contributed to an increase in payments later in the month. As a result, renters that typically pay within the first six days of the month may have a payment come in a few days later, providing hope that rent collections will rebound later in the month.