5 min read
Portable Tenant Screening Report: A Comprehensive Guide
Discover the benefits and considerations of Portable Tenant Screening Reports (PTSRs), which offer a cost-effective, reusable screening option for tenants and require...
In mid-September, we sent a survey to over 22,000 active TurboTenant landlords to gain insights into how the COVID-19 pandemic has impacted their rental process, specifically regarding marketing, tenant screening, rent payments, and evictions. We conducted the survey between September 10th – September 14th.
Our first questions centered around rent payments for August and September. In our previous surveys, rent payments for April, May, and June were reported at 65%, 61%, and 63% respectively. The data reported for August and September is encouraging with 77% and 74% of landlords receiving the full rent amount from their tenants. See below for further analysis.
Eleven percent of landlords did not receive rent in August, and 14% of landlords did not receive rent in September. This is an improvement from data reported in April, May, and June with 20%, 21%, and 19% of landlords reporting they did not receive rent payments from tenants.
Nine percent of landlords received partial payments in August, and 10% of landlords received partial payments in September. Partial payments reported for April, May, and June were similar to August and September, with 11%, 12%, and 12% respectively.
Only 2% of landlords set up payment plans for their tenants in both August and September. These amounts remain consistent with April, May, and June at 2%, 3%, and 3%.
Rent cancellations were down two points across the board, with 1% of landlords reporting they canceled rent for August and September.
We distilled the data further to see how landlords in various unit categories were affected. First, we will break down the respondents per unit size. Seventy percent of respondents own 1-4 units, 17% own 5-10 units, 8% own 11-20 units, and 5% of respondents own 21 or more units.
Here is a breakdown of who fared best in each payment category for August.
Here is a breakdown of who fared best in each payment category for September.
The top five states our survey respondents own rental property in are: California, Colorado, Florida, Illinois, and Washington. We’ve broken down the data by categories below.
We also asked landlords how their processes have changed at various stages of the rental process, specifically around marketing, tenant screening and evictions.
Our final question centered around new technologies landlords might want in the future to meet the changing needs of the market and potential tenants. They overwhelmingly reported that virtual tours and having the ability to market, show, and rent their properties in an entirely virtual environment was their top priority. This would enable them to avoid any downtime in filling vacancies and more easily navigate variances in the comfort levels of in-person transactions and showings.
Subscribe to get tips, news, and hacks for even the most seasoned landlords.
5 min read
Discover the benefits and considerations of Portable Tenant Screening Reports (PTSRs), which offer a cost-effective, reusable screening option for tenants and require...
5 min read
Do you know who’s moving in? Without a thorough tenant screening report, you leave yourself open to financial harm. But when you...
9 min read
TurboTenant leads as the best landlord app of 2024, offering a suite of essential property management tools—from tenant screening to rent collection—designed...
Join the 600,000+ independent landlords who rely on TurboTenant to create welcoming rental experiences.
No tricks or trials to worry about. So what’s the harm? Try it today!