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- Can rent reporting be a game changer? It might be mandatory soon
Can rent reporting be a game changer? It might be mandatory soon
From incentivizing renters to pay on-time to help them build credit, rent reporting has a variety of benefits.
Sina Shekou & Steve Jarvis
August 23, 2024
If you are reading this it’s because you’re a subscriber to Aptly or got a special invitation from someone in our community. The Edge is something special, something authentic, something different -- a bespoke weekly-ish newsletter crafted just for people in the property management industry focused on tooling their business with systems for rapid growth, scaling, and profitability. Each issue will include industry insights, powerful tips, interviews from thought leaders, and updates from the Aptly platform. Feel free to invite others to the publication and spread the word.
Now, let’s get to our first issue of The Edge.
Getting The Edge
Each week we’d like to present some quotes, insights, and tips to sharpen your edge. Hope you enjoy these:
Your competition isn't other people. Your competition is your procrastination. The knowledge you neglect, the negative behavior you're nurturing, and your lack of creativity.
Are you currently reporting rent to the 3 credit bureaus? |
💡Tip
Ever calculated your rent debt amount and percentage? It’s a great number to track month over month and compare to the averages in your rental markets. Check out this great resource to explore rent debt nationwide: https://nationalequityatlas.org/rent-debt-in-america
Industry Insights
A new Harvard report reveals that 22.4 million of U.S. households spend more than 30% of their income on rent, with 12.1 million spending more than 50 percent. Moreover, nearly 45 million adults in the United States have a limited credit history, including 26 million credit-invisible adults.
In the ever-competitive world of rental housing, amenities have become a critical battleground for attracting and retaining renters. Gone are the days of simply marketing your available rentals and expecting renters to apply. Today’s rentals are getting bundled with an array of unique and innovative amenities designed to cater to the diverse needs and desires of modern renters.
Rent reporting needs to be your #1 amenity
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