With strengthening rental market, landlords may need more background checks

tenantriskverification April 20, 2012 0

by  Karen Umpierre

Rental markets around the country are gaining momentum, a trend that may have more landlords looking for credit report servicesto find the most suitable tenants.

RentJuice recently issued a report about the market for apartments in Chicago, noting that people seeking rentals in May will have a much wider selection that what is currently available. At that point, 47 percent of listings will be up for immediate move-in, the company found.

“Renters will now find themselves with a smaller percentage of apartments with two bedrooms or less from which to choose,” the report noted. In a market that is more competitive for those renting, landlords may enjoy the luxury of picking applicants that have strong consumer credit report scores.

The demand for tenant background checks and credit report services may also increase in other regions, including Mi

nneapolis, Minnesota. Murphy News Service reports that the area is seeing an influx of people looking to rent or buy a residence.

Realtor Fritz Kroll told the news source that many consumers remain “renters by choice” and want to stay that way due to job insecurity or because they are unsure of moving to a new city … the rental markets are insane right now.”

Source : microbilt

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