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Rent increases, when paired with high interest rates and declining revenue, not surprisingly, makes for a toxic concoction in terms of small businesses paying rent on time.
That’s the key takeaway from Alignable’s November Rent Report. The headline: More than four of every 10 small businesses nationwide, 41%, couldn’t pay rent on time and full in November, the report from the small business online networking website found. That’s the highest monthly rate of 2023. It’s 1 percentage point over 40% in each of September and October, and 11 points higher than the low point of the year, 30% in January.
The good news, at least for the Sunshine State, is Florida had a 27% delinquency rate in November. That’s down 18 percentage points from 45% in October, the report found.
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