*Tracking The Rental Market*
**By Tony Garritano**
***As more people move away from owning a home in favor of renting a home, information on rentals is in demand. The fact is that people are also being forced to rent. If your house is foreclosed on you are probably going to be a renter very soon. On a similar note, mortgage lenders and investors are increasingly becoming landlords as a result of mass foreclosures. So, everyone in our space needs good rental data. To this end, a company called RentRange has developed a tool to zero in and optimize rent estimates by property; pre-fill or supplement traditional AVMs, BPOs and appraisals; determine sell/rent/hold strategies and more. Here’s what they offer:
****This automated valuation solution by RentRange provides key information about localized vacancy rates, rental market strength indicators and more vital intelligence. Specifically, RentRange, LLC is a provider of single-family rental market intelligence to the financial services and real estate industries. With a core focus on national residential rental data, analytics, and valuation solutions, RentRange delivers a wide assortment of address and geography-level knowledge and rental AVM technologies designed to fit the demands of any sized organization.
****The company offers geography-driven regional data on rental properties, both single family and multifamily apartment/condo/townhome residences. Macro data is available at MSA, city and zip code levels in a variety of formats designed to provide vital decision-making information at top speed. RentRange also offers address-level rental property AVM (automated valuation model) with confidence score, neighborhood rent averages and trends, area vacancy rates and rental market strength indicators.
****I’ll be sure to keep you updated on RentRange and others looking to help the space become more educated about how to deal with rentals.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.