ResidentScore

ResidentScore: Translating Credit Histories to Rental Payment Performance

For property owners, the risks associated with choosing the wrong renter are significant: eviction, late payments, and lease violations are all potential outcomes. To mitigate these risks, having access to the right information is essential. TransUnion’s ResidentScore, included in every SmartScreen tenant screening package, helps landlords make more informed leasing decisions by providing a clearer understanding of potential tenant risk.

A Tailored Approach for Precise Tenant Screening

Unlike traditional credit scores that are designed to predict loan outcomes, ResidentScore is specifically developed for tenant screening. This scoring model uses a sophisticated formula to analyze credit histories and predict rental payment performance more precisely. Powered by data from over 500,000 actual tenant records, ResidentScore provides a tailored score between 350 and 850, with higher scores indicating lower risk. This approach gives landlords a nuanced view of tenant reliability, allowing them to assess risk more effectively than with a generic credit score.

How ResidentScore Works

ResidentScore functions by analyzing an applicant’s credit history, but with a unique focus on rental behaviors. Traditional credit scores focus on loan performance, but ResidentScore applies a specialized formula to interpret credit data in ways that directly relate to rental suitability. By using ResidentScore, landlords can better understand an applicant’s risk level, ensuring they choose the right tenant for their property.

Why ResidentScore Matters for Landlords

Selecting the right tenant is critical for maintaining steady rental income and minimizing potential issues. With SmartScreen’s customized approach, ResidentScore provides insights beyond what a standard credit report can offer. It allows landlords to make confident leasing decisions based on reliable, rental-specific data. This leads to a more secure tenant selection process, reducing uncertainty and helping property owners avoid the risks associated with unreliable tenants.

TransUnion SmartScreen’s recommendation service, based on credit score analysis, may not be available in all areas due to legal restrictions, including those in Washington D.C. However, ResidentScore remains a valuable tool for landlords seeking to assess applicants with precision and confidence.

Why is a Tenant ResidentScore Better Than a Credit Score?

When it comes to Tenant Screening, not all scoring models are created equal. Traditional credit scores are designed to predict loan outcomes, not rental performance. TransUnion’s ResidentScore, on the other hand, is specifically developed to assess the suitability of tenants, making it a more effective tool for landlords. Every SmartScreen tenant screening package includes this tailored ResidentScore, providing landlords with more relevant information.

ResidentScore: A Tailored Approach to Tenant Screening

Unlike generic credit scores, TransUnion’s ResidentScore is powered by an advanced analysis of over 500,000 actual tenant records. This depth of data allows ResidentScore to offer a more precise prediction of rental risk. SmartScreen uses this sophisticated approach to uncover a tenant’s ResidentScore, helping landlords minimize potential issues before they arise.

For landlords seeking reliable insights into prospective tenants, SmartScreen’s ResidentScore provides a clearer picture of an applicant’s reliability and risk level. Unlike traditional credit scores, which range from 300 to 850, ResidentScore assigns a score between 350 and 850, with 850 indicating the best possible risk profile. This score is specifically designed to assess a tenant’s suitability by analyzing credit report data in a way that is relevant to rental situations.

How ResidentScore Works

ResidentScore works by evaluating a tenant’s Credit History, but it does so with a distinct focus on rental outcomes. While a traditional credit score uses credit history to predict loan performance, ResidentScore applies a unique formula to that data to provide insights tailored for landlords. This makes it a more appropriate metric for understanding the rental risk associated with a potential tenant.

Why ResidentScore Matters for Landlords

As a landlord, you need to trust the individuals who will be living in your property. SmartScreen offers customized information beyond what a credit report alone can provide, giving landlords a more nuanced understanding of tenant reliability. By using SmartScreen’s credit and background checks, including ResidentScore, you can make more informed and confident leasing decisions. This tailored approach helps landlords reduce uncertainty and select tenants who are more likely to meet their obligations.

It’s important to note that the SmartScreen recommendation service, which is based on credit score analysis, may not be available in all jurisdictions. Certain legal restrictions, including those in Washington D.C., may limit or prohibit its use.