Learn from owners/managers and thought leaders about how to leverage rental payment history to improve screening processes in the NAA Education Conference session Dr. Jekyll and Mr. Hyde? Rental Payment Data Helps Identify the Best Residents.
Based on new data on the NOI impact of current rates of rent default in the multifamily industry, renters are a higher-risk group than the overall U.S. population, as measured by credit scores. Additionally, findings from the analysis Risk versus reward: identifying the highest-quality resident using rental payment history indicate that residents who repeatedly move out of a community owing money are nearly six times as likely to repeat the behavior, compared with those who have consistently paid rent on time.
Integrating rental history into your existing screening practices is simple and effective. Rental history helps to identify not only those prospects who pose the greatest threat to your community’s NOI, but also good residents with little or no credit history. Through the adoption and application of rental payment history, the multifamily industry stands to recover millions of dollars in write-off losses, improve resident qualifications by identifying low default-risk applicants and decrease costly skips. This session will better prepare your community to identify the good resident — Dr. Jekyll — as well as the riskiest — Mr. Hyde — before a lease is signed.
Join us on Friday, June 21, from 9:45 a.m. to 11:15 a.m. in Room 31ABC for "Dr. Jekyll and Mr. Hyde? Rental Payment Data Helps Identify the Best Residents". You’ll learn more from owners/managers and thought leaders about enhancing your screening techniques with rental payment history data. An executive summary of the new data findings also will be available to conference attendees.