With the ups and downs of the housing market over the last decade, we've seen rental occupancy spike at the highest rate since 1993.
Austin, TX (PRWEB) July 26, 2017
Today, TenantCloud, the premier cloud-based property management solution, launched The TenantCloud Quarterly to provide ongoing insight and analysis of real estate trends. Based on company data and a survey of landlords within TenantCloud’s network, the latest report shows that U.S. rental occupancy rates are at the highest rate since 1993 and the country saw the largest percentage rent increase from January to March. As a result, many people are jumping into the rental market as first-time landlords, two-thirds of TenantCloud landlords polled classify themselves as “part-time” landlords, and more than one-third have been a landlord for less than five years.
“With the ups and downs of the housing market over the last decade, we’ve seen rental occupancy spike at the highest rate since 1993,” said Joe Edgar, CEO of TenantCloud. “As a result, many people are jumping into the rental market as first-time landlords, which is why we’re committed to providing a one-stop shop that delivers all of the tools and functionality they need to easily manage their properties.”
“Since I manage a few properties on the side, I need a platform that is cost-effective, yet comprehensive to ensure I am making the most of my time and investments,” said Dave Howell, a St. Louis, MO-based rental property manager. “Many times, when you’re going the free route, you lose the completeness of the offering and end up having to use many disparate products to meet all of your needs. With TenantCloud, I have everything I need to effectively manage my properties, and they continue to evolve to deliver features I didn’t even realize I needed.”
According to the TenantCloud Quarterly, nearly one-third of all urban rental applications on TenantCloud are from renters over the age of 60, the largest increase of any other renting age group. And more than four in 10 landlords say their average property is a single-family home.
In an effort to help landlords find more leads for vacant units and get the investment cash flowing, TenantCloud is also announcing the availability of a new feature called TenantMatch, which allows renters to create a profile with details about their preferred rental, so landlords can find them if they have a good fit.
When it comes to what landlords are looking for, the report finds they rank eviction history and a high credit score at the top of their list for the most important information about a possible tenant. And ‘paying on time,’ is the number one characteristic of their ideal tenant. Most landlords say their average tenants are families (54 percent). And while 78 percent say the ages of their tenants have remained the same in the past five years, 13 percent say it has increased.
For the full report, visit https://www.tenantcloud.com/blog/rental-occupancy-according-to-landlords-using-tc
TenantCloud is the premier cloud-based property management solution that helps landlords maximize the revenue from their rental properties. Built as a free and comprehensive solution, TenantCloud provides landlords everything they need to manage their rental business in one place, including posting listings, collecting rent online, and screening applicants. TenantCloud is the hub for property management with a user-friendly interface that streamlines the complete rental process, from backend accounting to maintenance requests, to drive increased return on rentals for landlords. For more information, visit http://www.tenantcloud.com.