Information is Power

As we all know, information is power. Whether we are buying a house, investment or screening a new applicant; information helps us make the best choice possible. In fact, the difference between a good and bad decision is all about information! Below is a random list of useful facts that will help you analyze your applicants and how they compare to the averages of the nation

Useful Facts:

Credit Scores:

Though many creditors have their own models, the model below will help you analyze credit scores.

  • Excellent Range: 781-850
  • Good Range: 664-780
  • Fair Range: 601-660
  • Poor Range: 501-600
  • Bad Range: below 500
  • Average National Credit Score: 664
  • Average Rental Credit Score: 625
  • Top State with Average Score: Minnesota
  • Bottom State with Average Score: Mississippi

Cards and Debt:

  • Average Debt Per Consumer $28,496
  • Number of Bank Cards Per Consumer 2.18
  • Number of Retail Cards Per Consumer 1.54
  • Consumer Debt is Closing in on the All-Time High of 2008 $3.407 Trillion Total

 

Net Worth:
Average Homeowner: $200,000 (mostly home equity)
Average Renter: $5000

Ownership vs Renters:
Homeowners 65% of Population
Renters 35% of Population (slowly rising)

Crime Statistics:

  • Sex Offenders 400,000
  • Over 2 Million Burglaries per year
  • Over 16,000 Murders per year
  • 30.2% of Population Have Been Arrested Prior to Their 23rd Birthday for Something Other Than Traffic offenses
  • 3 Out of 4 Prisoners Will Be Arrested Again Within 5 Years (Study of BJS 2005-2010)

About the Author

David Pickron has been a licensed private investigator for over 20 years, specializing in tenant screening for real estate investment owners and property management companies. His company, Rent Perfect, an Investigative Screening Company, helps clients onboard tenants from the initial background check to leasing and payment collection. You can learn more by visiting www.rentperfect.com or calling 1-877-922-2547.