CoreLogic (CLGX) expanded its tenant screening services to deliver rental applicant screenings for single-family rentals and the small-landlord market.
This falls right in line with the market as the demand for renting continues due to home prices steadily rising and mortgage rates climbing higher.
The new service is offered through myrental.com and utilizes CoreLogic’s public record and proprietary database to provide unique applicant data for landlords to better assess applications.
Additionally, the service offers a comparison of tenant scores within geographic areas so landlords can evaluate risk within the same region.
"It's important that as market needs shift, we respond to accommodate the changing dynamics of the landlord market," said Pam Storm, senior vice president of CoreLogic specialty credit.
"The growth in the single-family rental market has created a new kind of landlord for whom risk assessment is just as important as for large, multifamily apartment communities. Using data and analytics to make smarter, more informed leasing decisions makes sense for every property owner and manager,” Storm continued.
According to a previous HousingWire article, the percentage of Americans renting their homes has grown from 31% in 2004 to 35% in 2012.
On the other side, if you are an investor looking to buy in the right areas, here is a list of the 5 best and worst rental returns market that could help before you even get started on screening applicants.