The price of a good rental is on the rise, but that’s not enough of a deterrent to keep anyone from renting. In a recent survey of property managers conducted by the credit bureau TransUnion, almost half of them reported an increase in rent prices over the past year. It’s also becoming easier to find tenants to fill any vacancies.
“Data throughout the last year has pointed to a healthier rental market, and our survey helps validate the current strength of the rental industry,” said Steve Roe, VP of TransUnion Rental Screening Solutions. “The rise in rental prices, coupled with a decrease in vacancy rates and the ability to attract new residents with less effort are all positive signs for the market and rental property managers.” There is one concern that kept coming up, which is finding quality tenants. The risk of finding the wrong tenant can prove to be very costly in terms of damage repairs and lost rent.
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