Advancement in Technology Foreseen To Drive the Global Tenant Screening Services Market from 2021 to 2031 April 20, 2022
Tenant screening is the process of estimating potential renters for available apartment units. In general, the purpose of tenant screening is not to determine the eligibility of a tenant for a certain program, but to determine if the person is likely to be a good tenant. Widespread use of tenant screening services market by property managers is a relatively recent practice. Tenant screening agencies or private agencies that sell information about prospective tenants to property managers first began operating in the U.S. in the 1970s. There are many housing authorities and owners of multifamily subsidized housing that have written policies that include procedures related to tenant screening.
Nowadays, many landlords and property managers perform a credit check on applicants looking for accommodation. Furthermore, the property managers are highly reliable on public records, rental references, and employment verification for verifying the tenant’s identity. Today, tenant screening is a common practice, and companies offering such services can be found across the world. The practice of screening potential tenants is designed to help rental property owners lessen the risks and liabilities associated with prospective clients.
Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=51663
Key driver of the global tenant screening services market is the rapidly growing rental housing market. Due to the Great Recession, rate of unemployment has been high and income has declined, constraining household budgets and making people shift toward living in rental houses. Young adults are the potential age group to rent a house due to changes in studies, jobs, etc. Renting has significantly flourished in regions, especially in central cities, where land prices are high and low-income households are concentrated. Apart from this, technological progress has also been a key driver of the global tenant screening services market. Tenant screening service companies are now able to collect information from public record databases and the major credit