According to the National Multi Housing Council, as much as 2% to 5% of rental revenue is lost each year from residents who:
skip
write bad checks
are evicted
leave significant property damage
In the +$115 billion apartment industry, that’s +$3-5 billion that could be recovered annually.
At the same time, renters with good payment histories, but without established credit, are often overlooked and turned away. Reports from scoring and credit agencies don’t include their good rental payment records. The applications of these honest, reputable renters are denied because of incomplete information.
The greatest predictor of an apartment applicants' likelihood to pay rent is their rental history. Yet there has been no consistent, coordinated or consolidated system to collect and report that information. In the absence of this data, rental agents make decisions based on incomplete information.
RentBureau seamlessly collects rental payment histories, incorporates them into its proprietary National Rental Data Exchange™ database, and automatically provides the updated and critical information as part of apartment companies' screening processes.
