TurboTenant releases biannual State of the Rental Industry Report, highlighting unique findings among landlords and tenants

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Jul 27, 2022, 08:05 ET

FORT COLLINS, Colo., July 27, 2022 /PRNewswire/ -- Though the 2022 rental market is scorching hot, 56.9% of tenants reported paying a fair amount in rent compared to the quality of their rental, according to a new study conducted by TurboTenant.

The data also revealed that the landlord-tenant relationship is not nearly as contentious as popular culture presents it. 63.3% of renters rated their landlord as a 5/5, and 72.1% of tenants were highly likely to recommend their landlord to friends. Similarly, landlords rated their current tenants 4.3 out of 5 on average.

TurboTenant deployed eight surveys to landlord and renter audiences over the first half of 2022, garnering over 4,000 completed responses. Their four-part report provides insight into why people become landlords, the landlord-tenant relationship, financial challenges, and respondent demographics. View the full State of the Rental Industry Report here.

"Understanding our landlords and renters through conducting research is vital to TurboTenant's ability to better serve them," said Seamus Nally, CEO of TurboTenant. "Our latest report underscores how important it is for landlords to form and maintain healthy professional relationships with tenants, particularly in our current economy. Responsive, respectful landlords enable a smooth rental experience, which reduces their vacancy rate and boosts their bottom line."

About TurboTenant

More than 450,000 independent landlords across the U.S. enjoy TurboTenant's free, all-in-one online property management solutions. Features offered by TurboTenant include property marketing, tenant screening, rental applications, lease agreements, rent payments, and rent reporting. Please reach out to [email protected] for specific data requests.

Contact
Krista Reuther
TurboTenant
[email protected]

SOURCE TurboTenant, Inc.