It’s been a good few years for property owners. And it looks like it’s only getting better.
We’re partnered with credit bureau Transunion so we can provide full credit reports, criminal background checks and eviction reports for our landlords and property managers. Transunion sent us a copy of their latest research data among private landlords, so we decided to pass it along to you! It paints a pretty rosy picture of rental markets, for property owners.
Sure, rents have risen (especially on the West Coast). But that’s not all there is to being a landlord.
The credit bureau found that landlords are having an easier time finding qualified applicants for their properties. Filling your vacant rental unit with qualified renters is arguably the most important task landlords do, once they’ve bought a property. So it’s no small improvement, that over 7 in 10 landlords are having an easier time of it.
Turnover rates have also been declining nationwide, which is more important than most landlords realize. Since turnovers are where landlords lose the most money, tenant retention should be among landlords’ highest priorities.
I’ve personally been a long-term believer in eviction history reports, as far more important to screening renters than even credit reports and criminal background checks. Apparently I’m not alone in that belief, according to the survey results!
All right, enough preamble, what are landlords across the U.S. saying?
Here are the survey results from hundreds of independent landlords of all experience levels and portfolio sizes, across all 50 states:
Mo’ Money Comes from Mo’ Knowledge