A measure of rental risk from data provider CoreLogic (CLGX) found that renters' credit quality and risk of default are improving. The company's Renter Applicant Risk index for the first quarter of 2013 is at a healthy 104, up 2 points from last year and up from 99 at this time in 2011.
A RAR index above 100 indicates applicants have better credit, and are better able to meet theirlease obligations. "As the economy continues to grow slowly, conditions appear cautiously optimistic for continued improvement in renter applicant qualifications in the year ahead," said CoreLogic SafeRent senior director Jay Harris. "During this relatively upbeat period, renter trends are pointing toward increased confidence among property owners and applicants."