LAS VEGAS – A national survey of property managers shows that about half of all property managers are “experiencing more difficulty” finding qualified renters and a greater amount – 81 percent – say they won’t likely find new “reliable” residents through the end of 2009.
Conducted in early June by TransUnion, a credit-rating company, the survey asked 870 residential property managers about their vacancy rates, rental activity and outlook. It was released last week in conjunction with the National Apartment Association’s Education Conference & Exposition in Las Vegas, according to the company.
Thirty-two percent of respondents said their vacancy rates have grown since last year, while 48 percent said their vacancy had not grown.
“Our survey confirms that the recession has placed added pressure on property managers and that they will continue to face economic stress through at least the end of 2009,” Vice President Mike Britti said in a statement. “In this dynamic economy, it is important for property managers to look for efficiencies throughout their businesses processes while also locating the residents who will be both reliable and profitable.”
Still, national vacancy rates don’t look too bad; the majority of property managers responding to the survey – 57 percent – said their vacancy rates were less than 5 percent. Another 22 percent of respondents said their vacancy rate was 6 percent to 10 percent. Thirteen percent of respondents said vacancies were between 11 percent and 20 percent and only 6 percent of respondents said their vacancies were greater than 21 percent.
TransUnion LLC is one of the three major credit-scoring companies operating in the United States, the others being Dublin-based Experian Group Ltd. and Atlanta-based Equifax Inc. Privately-held TransUnion was founded in 1968 and is headquartered in Chicago. Additional information is available at TransUnion.com.