Aimco (AIV) Reports 99% Collection of Multi-Family Rent Revenue for April and 88% Collection for May, Through 6 Days

Apartment Investment and Management Company (NYSE: AIV) today issued the following statement.

In April, Aimco was owed approximately $69 million of multi-family revenue and recognized 99%, after a 1% provision for Bad Debt. Of the 99%, 96% was received in cash and 3% was accrued based on security deposits available for offset, and the FICO scores of the resident or his guarantor. Through the first six days of May, Aimco has collected 88% of billed residential rent; identical to Aimco’s collection percentage through the first six days of April.

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