As a resident screener, you want to provide your property owner/manager clients with the latest, most powerful data before a lease is signed. With Experian RentBureau’s real-time positive and negative rental payment data, including on-time payments, nonsufficient funds (NSF), write-offs and rental collections, better leasing decisions are made by identifying risky residents and accepting more high-quality residents at the point of application.
The practice of accessing rental payment data to enhance the resident screening process is critical to identifying the highest-quality resident. Incorporating rental payment data in screening provides a more comprehensive understanding of an applicant’s risk profile and, specifically, his or her likelihood to pay rent as agreed. Additionally, leveraging rental payment data in screening saves your clients time and money by removing the need for time-consuming and subjective manual verification of rental payment histories.
Default rates by rental payment history
Renters with one prior debt have a default rate four times as high as applicants with positive rental history. For renters with two or more prior rental debts, the default rate is six times as high.
Hear what Equity Residential, ALCO Management and others have to say about using rental payment data.
Learn about the benefits of accessing and sharing rental payment data.
Did you know serial skippers are 6 times more likely to default again? Learn how rental payment data can help.
See what CNN, The Wall Street Journal, The New York Times, Multifamily Executive, UNITS and others have to say about rental payment data.
CNN’s The Situation Room reports that Experian is now including rental payment history data on its credit reports. This change could impact millions of renters nationwide.