State of the Rental Industry
The American rental market has rarely been as competitive as it stands currently. According to research from RentCafe, 14 renters competed for one lease on average throughout the first half of 2022, spurred on by the fact that 95.5% of rentals were occupied during this same period. With a mere 0.7% increase in inventory, renters are feeling the burn.
On average, landlords rated their tenants as
Here at TurboTenant, we’ve been surveying our landlords and tenants alike to understand how this ultra-hot market is impacting them month over month. According to the Pew Research Center, most landlords are individuals who own just a few units with the number of individual investors sitting at 14.1 million – and the independent landlord, also known as mom and pop landlords, was the main participant in our surveys. Over the first half of 2022, we sent a total of eight surveys to our audience, garnering over 4,000 responses. Our findings for the first half of this year are summarized below.
This Report Reveals:
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TurboTenant has helped over 400,000 landlords find great tenants for their rental properties. This has enabled us to collect and curate data with the goal of helping landlords, property investors, and journalists understand rental market trends.