U.S. News: The Apartment Transparency Push – What Rental Platforms Are Doing and What It Means for Renters
Products
U.S. News: The Apartment Transparency Push – What Rental Platforms Are Doing and What It Means for Renters
Change is afoot in the rental industry, and it could help renters better understand the costs that a potential property presents – not to mention more easily qualify for that property in the first place.
It all comes down to the “Blueprint for a Renters Bill of Rights,” a White House initiative announced earlier this year that aims to create a more equitable and transparent market for American renters.
While the 19-page document stops short of proposing any official mandate or policy, many players in the rental world have already taken its tenets to heart, changing their approach to rental listings – and, most importantly, rental fees – over the summer.
“Transparency around lease terms and fees are ultimately beneficial to both renters and landlords,” explains Jon Ziglar, CEO of Rent., a rental listings platform. “Renters gain a clearer understanding of the total costs associated with a potential rental, allowing them to better assess their ability to afford a given apartment and to make better household budgets. Landlords receive a higher proportion of qualified applicants who are in a financial position to fulfill the lease terms.”
smarter
—