GREAT NECK, N.Y., (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT), a real estate investment trust that either directly, or through joint ventures, owns, operates and develops multi-family properties today announced it is providing a business update.

Jeffrey A. Gould, President and CEO commented, “We believe that the multi-family sector continues to remain a strong asset class and is showing its resilience in these uncertain times. Demand for rental housing in our region, primarily the Southeast, is stable and we are working diligently with a focus on occupancy at the properties while keeping the safety of our staff and tenants a top priority.”

Rent Update

As of May 18, 2020, the Company collected 96% of the rent from its multi-family properties for the month of May. This is in comparison to 96% collected through roughly the same period in the month of April and 98% collected for the full month of April. BRT continues to be in contact with select residents who have, due to severe economic difficulty, asked for some form of rent relief and is working with these residents to create a fair payment plan.

Corporate Update

Since the beginning of the COVID-19 mandated shutdowns, the Company has continued to employ all staff at the corporate level and implemented work from home procedures to ensure efficiency while keeping employees safe. Furthermore, the Company has continued to remain current on all its financial obligations.