How Many Home Shoppers Are Renters?

Posted by Florida Realty Marketplace on June 23rd, 2017

Renters are finally setting their sights on homeownership, according to an analysis released by credit reporting agency TransUnion on Thursday. In Q1 of 2017, a whopping 55 percent of all home shoppers were non-homeowners or renters.

The share of renter home shoppers represents a marked uptick over previous years. In Q1 2016, half of all shoppers were non-homeowners or renters. In the same period 2015, only 45 percent were.

According to Mike Doherty, Senior Vice President of Rental Screening Solutions at TransUnion, this trend will likely continue over the coming years—and multi-family property owners should brace for the impact.

“The rental market has seen sustained growth for the last several years, but occupancy rates have flattened from their…

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Collection Records Show Many Renters Who are Evicted are Repeat Offenders

Posted by Florida Realty Marketplace on February 24th, 2016

An effective way to predict the behavior of renters is through examining rental-related collection records, according to a new analysis from TransUnion.

According to TransUnion, involuntary turnover (which includes defaults as well as evictions for other reasons) costs property managers about $3,500 per unit in court costs, lost revenue, and other types of expenses.

“Rental evictions and collections records offer a unique, insightful look into a resident’s current record,” said Mike Doherty, SVP of TransUnion's rental screening solutions group. “Rental-related collection records may be timelier than eviction public records—which can take weeks or months to process through the system—and the combination of the two helps property managers make…

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