Bankruptcies on the Rise 

The trend is clear: bankruptcies are on the rise while foreclosures remain flat.   Since the collapse of the housing market, the nation, and property management companies in particular, have been keenly focused on the growing number of foreclosures in the US.  Interestingly, the foreclosure rate observed on apartment applicant credit reports remains relatively unchanged since 2009, while the number of renter applications with recent bankruptcies on their credit reports has increased by 9%, compared to this time a year ago.  

Have you reviewed the way you evaluate applicants with bankruptcies on their credit report?  Work with your screening provider to understand how these applicants are performing, and whether you think you need to make a change to your screening criteria.