Many renter applicants still not strong enough

Apartment rental applicants aren't always strong candidates.

The entire market is improving steadily, but even though consumers are getting into better financial situations, it doesn't mean they are better rental risks, according to Multi-Housing News.

Renter applicant quality has not varied much over the past few years, despite the recession. The only significant changes were that older Americans are applying for rental properties at a slightly higher rate, and young consumers are renting at a slightly less frequent rate.

"I went back to 2008 in our records," Michelle Sinclair, president of Trillium Residential, told the news source. "I thought I would see a decline in credit scores then, and an uptick now. I didn't. It's been very flat and very consistent."

The news source did note that even if mortgage delinquents apply for a loan, it doesn't mean that they would be poor tenants. In fact, these consumers may be solid choices, despite their damaged credit.

Overall, this information could signal that property management companies may need to continue to examine candidates just as carefully as they typically do.

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