Single-family rents, as measured by the CoreLogic Single-Family Repeat Rent Index (SFRI), climbed steadily between 2010 and 2016. However, rent growth has softened during the last 18 months. The index shows that rent growth has been slowly decelerating (Figure 1) since February 2016 when rent growth peaked at a 4.3 percent year-over-year increase. As of May 2017, single-family rents increased 2.9 percent year over year, a 1.4 percentage point deceleration since the February 2016 peak. The index measures rent changes among single-family rental homes, including condominiums, using a repeat-rent analysis to measure the same rental properties over time. Read more
In today’s world, things change quickly. For rental property owners, this is no exception. Instability in the real estate market and an economic downturn has led to an increase in rental applicants. The good news is that rent prices are up. However, the old rules – like evaluating applicants based only on credit scores, or turning down applicants with little or no credit bureau history — may not be enough to keep income stable.
Landlords making yes-no decisions based on a small set of factors, like credit history or bankruptcy, may be missing out on high quality tenants. For property owners, greater insight and data allows landlords to make an informed decision about potential tenants.
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