– Solution Integrates Applicant Rental Data in the Screening Process to Help Housing Providers Make Better-informed Decisions –
ALPHARETTA, Ga. – November 11, 2013 – First Advantage, a Symphony Technology Group (STG) company and the leading global provider of screening analytics and identity solutions, today announced details of its collaboration with Experian RentBureau®, the largest rental payment database in the multifamily industry. Through this strategic collaboration, data from Experian RentBureau is linked to First Advantage’s resident screening solution to help housing providers identify residents who may pose the greatest risk of skipping or making late payments.
With nearly one-third of the 300 million residents in the U.S. renting housing, and 64 million U.S. consumers with insufficient or no credit history, it is critical for housing providers to be able to identify individuals with good rental payment history, an indicator for potentially responsible tenants.
As the largest and most widely used credit reporting agency for the multifamily housing industry, Experian RentBureau receives rental payment data daily from a national network of more than 400 property management companies. By integrating this Experian data with First Advantage’s resident screening solutions, property managers will have a thorough, streamlined process to view their applicants’ background information including their positive or negative rental history.
As a result of this enhanced offering, First Advantage clients benefit from receiving rental payment history at the same time as their existing tenant screening data, delivering instant insight into the factors that shape their applicant selection processes. With access to such information, they can recognize habitually late paying residents and identify residents with little or no credit but good rental history. Equipped with this knowledge, housing providers can ensure they rent their properties to individuals most likely to pay on time, while reducing the potential risks of financial losses and additional recoupment expenses.
“The valuable and up-to-date Experian RentBureau rental payment history data provides multifamily housing providers with the additional data necessary to determine which applicants will be the best tenants,” said Brannan Johnston, vice president and managing director, Experian RentBureau. “We are pleased to collaborate with First Advantage and help more housing providers access this crucial insight.”
“Thousands of multifamily housing providers rely on First Advantage to conduct their resident screening processes to ensure they rent to qualified, responsible tenants,” said William Franck, executive vice president, Client Portfolio Management and Customer Service for First Advantage. “Property managers reporting data to Experian RentBureau and leveraging the First Advantage resident screening solutions will now recognize the full benefit of rental payment data. By teaming up with Experian RentBureau, our clients benefit from the additional insight into their applicants’ payment history, giving them a detailed view to help them make well-informed decisions.”
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