Finding the Best Renters: By the Numbers via Multifamily Insight Blog

A recent study of Experian RentBureau data found that more than 50,000 renters who initiated their leases over a six year period ended their leases owing money. Industry experts convened during the National Apartment Association Education Conference to analyze the study of more than 750,000 U.S. renters of class A & B properties. While some of the analysis may have had predictable outcomes, several findings concluded very surprising results.

The Majority of Renters Have Credit Scores Below 700

While looking over a credit report to see where an applicant’s score places them within the rental criteria, the majority of applicants may not meet the requirement on score alone. And, 56% of all applicants sampled had a score below 7001.One reason for the high percentage of lower scores may be attributed to the fact that “Generation Y” (18 – 29 years old) who account for a critical audience in the rental market, comprise more than half of the applicants in the sample set.

Read more...Finding the Best Renters: By the Numbers | Multifamily Insight Blog