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First Advantage SafeRent Releases First Quarter MAR Index

Resident screening provider First Advantage SafeRent recently released its Multifamily Applicant Risk (MAR) Index for the first quarter of 2008. The MAR Index is based on traffic quality scores from First Advantage SafeRent’s statistical screening model and is updated quarterly.

The MAR Index allows property owners and managers to compare their applicant quality trends with that of the average MAR Index trends. This comparison can indicate whether their portfolio is performing above, below, or at market levels in attracting and securing high-quality residents.

A score of more than 100 indicates a reduced average risk of default, and a score of less than 100 indicates an increased risk of default.

The MAR Index for the entire country for the first quarter was 100, which is a 1 percent increase from the fourth quarter of 2007. The Northeast had the highest MAR Index with a value of 110, while the Midwest and South had the lowest MAR Index with a value of 97.

First Advantage SafeRent also looks at metropolitan statistical areas. Austin/San Marcos, Texas; New York/Northern New Jersey/Long Island, N.Y.-N.J.-Ct.-Pa.; and Nashville had increases of 5, 5, and 4 points, respectively, from the first quarter of 2007. Dallas/ Fort Worth, Texas; Denver/Boulder/Greeley, Colo.; and Memphis, Tenn.-Ark.-Miss., had decreases of 4 points year-over-year.