Articles Tagged with ''renters''

Rental prices hit a median of $1,465 in June

Rents in 88% of the nation's cities increased in the first half of the year
As rent prices continued to climb in June, RentCafé indicates that the nation’s mid-year average rent spiked $37 from the previous year. According to the company’s Mid-Year Rent Report, the national average rent in June totaled $1,465. Not only is this a 0.8% increase from the previous month, but it is also 2.6% higher than the same period in 2018.
Read More

More renters than ever before say renting is cheaper than buying, but are they right?

Freddie Mac survey reveals more than a third believe homeownership is less accessible
Most Americans who rent their homes think this option is more affordable than buying. According to a recent survey by Freddie Mac, 82% of renters now view renting as more affordable than homeownership, that’s up 15 points from last year and an all-time high for the survey. But are they right?
Read More

Renters are renewing their leases more than ever before

Rents rise, but people still choose to stay in their apartment
Despite rents continuing to rise throughout much of 2018, renters are choosing to remain in the same apartment more than they ever have before, even if their rent goes up. In fact, a new report from RealPage shows that apartment resident retention (renters electing to renew their lease after its initial term expires) hit an all-time high last year.
Read More

Equifax launches soft credit checks for multifamily industry

Landlords can now check credit without hurting credit scores
Credit reporting agency Equifax announced Monday it will allow landlords to check prospective tenants' credit without it affecting their credit score. The company created a soft credit check designed for the multifamily industry, saying this will help those who might already have a thin credit file.
Read More

Apartments are getting smaller but costing more. What gives?

Average apartment size has fallen by 5% in 10 years, while prices have risen
Depending on which report you believe, rents are either slightly falling or just hit another all-time high. Regardless of whether rent is still going up nationwide, one thing is certain: Rents have gone up significantly over the last 10 years. Given that increase, one might think that renters are getting more for their money in the form of larger apartments, right? Wrong.
Read More

Renters more financially stressed than homeowners

Study shows renters have harder time paying for basic needs
Almost half of renters say they have trouble paying for basic needs, according to a recent report by Washington think tank The Urban Institute. The study drilled down on past survey results to better assess the divide between renters and owners, revealing that 46% of renters said they had trouble paying for basic needs, while just 36% of homeowners said the same.
Read More

NPR: Can rent control save California's struggling renters?

Some say inventory should be the main concern
Affordability continues to haunt homeowners and renters nationwide, especially Californians navigating one of the nation’s most unaffordable markets. However, a recently introduced proposition may offer Californian renters some peace of mind, according to an article from NPR.
Read More

Rental management platform TurboTenant raises $2.2 million to fund growth

Will use capital raised to roll out new features and expand market share
TurboTenant, a free platform for landlords that includes rental marketing, online rental applications, tenant screening, renters insurance, tenant management and communication, is planning to grow thanks to some newly raised funding. The platform garnered new investments from Service Provider Capital; Michael Beaudoin, co-founder of HomeAdvisor; and Karl Sowa, former CMO of HomeAdvisor.
Read More