Steep Decline in Renter Quality
According to this press release, On-site.com suggests that applicant quality is diminishing year over year. They go on to mention that preliminary numbers from 2009 support a deeper decline. In a quote Jake Harrington, On-Site’s director of business development, suggests “Resident quality trends are our in-house ‘economic indicator’ and it certainly paints the picture of a distressed pool of renters.” He further added that January’s numbers are on track for an even sharper increase in screenings with negative rental information – with 48 percent more screenings with landlord delinquencies compared to a year ago.
I recognize this might draw negative discord but do we think about creating a threshold of acceptance when it comes to an applicant owing a previous landlord? What do you think?
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About Mike Brewer
My mission is to tease out the human potential in the multifamily space.