But we run the credit history through a different formula to compile a residentscore.
Rv index score rent.
We review the tenant s credit history just like a credit score.
In the usa each of the major credit bureaus can have their own credit scoring model.
The credit score is a simple concept it is a number within a range of numbers and that number is generally calculated using complicated proprietary formulae.
Residentscore assigns a score from 350 850 with 850 being the best score possible.
By using a model specifically intended to predict rental industry outcomes you will be more likely to identify good tenants than using a typical credit score according to transunion s research residentscore predicts evictions 15 more often in comparison to a typical credit score in the bottom 20 score range where risk is highest.
With more people displaced by foreclosures forced to rent while repairing their credit a great demand for rental.
How to explain your recent low credit score to a housing rental company.