JULY AUGUST 2008
First Advantage SafeRent Releases
First Quarter 2008 Multifamily Applicant Risk Index By Jay Harris, Vice President of Business Services, First Advantage SafeRent
First Advantage SafeRent, Inc., a wholly owned subsidiary of First Advantage Corporation (NASDAQ: FADV) and the nation’s leading and most innovative provider of screening and risk management services for the multifamily industry has announced the release of first quarter 2008 multifamily applicant risk statistics. The Multifamily Applicant Risk Index (MAR Index) is based on traffic quality scores from First Advantave SafeRent’s statistical screening model and is updated quarterly to provide property owners and managers with a benchmark with which to compare their portfolio’s performance. With this unique applicant risk index, property owners are able to compare their applicant quality trends with that of the average MAR Index trends. This comparison indicated whether their portfolio is performing above, below or at market levels with respect to attracting and securing high quality, paying residents.
percent increase from the fourth quarter 2007, which confirms a trend of seeing higher MAR Index values in the first quarter over the fourth quarter of the prior year. Compared to the first quarter 2007, the MAR Index is the same value of 100. When comparing applicants for one- versus two-bedroom units, the MAR Index is slightly higher for one-bedroom units at 101 compared to 100 for two-bedroom units in the first quarter (see Graph 1). Regionally, the Northeast has the highest MAR Index with a value of 110 while the Midwest and South have the lowest MAR Index with a value of 97 this quarter (see Table 1). Q Here is how South Nevada performed: Las Vegas, NV—AZ: 1Q08 = 97 Las Vegas, NV—AZ: 4Q07 = 98
The first quarter national MAR Index, including studios, one-, two-, three-, and four-bedroom units (BR) was 100. This is a 1
Graph 1: United States Multifamily Applicant Risk Index Data
Table 1: Regional Multifamily Applicant Risk Index Data
Region
1Q 08
4Q 07
Midwest
97
94
Northeast
110
111
South
97
96
West
105
105
U.S.
100
99
Region Midwest Northeast South West U.S.
14
Change from 4Q 07 to 1Q 08
1Q 07
Change from 1Q 07 to 1Q 08
3 -1 1 0 1
96 108 97 107 100
1 2 0 -2 0
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