PHILADELPHIA’S FOURTH QUARTER 2011 INSIGHT INTO
MULTIFAMILY APPLICANT RISK INDEX
By: Jay Harris, Vice President of Business Services, CoreLogic SafeRent
The Multifamily Applicant Risk Index (MAR Index) is published quarterly by CoreLogic® SafeRent® and is based exclusively on applicant traffic credit quality scores from their statistical screening lease model(Registry ScorePLUS®). This quarterly report provides property owners and managers with a benchmark with which to compare their portfolio’s performance. The fourth quarter national MAR Index, including studios, one-, two-, three- and four-bedroom units, was 101. The fourth quarter MAR Index value increased three points from the previous two years showing a higher renter credit quality through the end of 2011.
Here is how Philadelphia performed in the fourth quarter compared to last year:
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD: 4Q11 MAR Index = 110
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD: 4Q10 MAR Index = 105
The Multifamily Applicant Risk Index (MAR Index) provides trends of national and regional traffic credit quality scores whereby a lower index value indicates an applicant pool with a higher risk of not fulfilling lease obligations.For more information, visit saferent.com.
CORELOGIC, the stylized CoreLogic logo, SAFERENT and REGISTRY SCOREPLUS are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.
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