RentPredict.com - Rental Credit History to Screen out DeadBeats
July 15, 2008 – 3:10 pm
One of the worst things for a real estate investor is getting a deadbeat tenant who doesn’t pay their bills. There also tends to be a positive correlation between deadbeats and distruction of property. I wish I heard of this tool prior to my last tenant I had to evict.
RentBureau has a credit history product called RentPredict. RentPredict takes available rental data and predicts the likelihood of a potential resident paying rent and fulfilling his or her lease obligations. Similar to a FICO credit score, RentPredict offers scores for each applicant.
- RentPredict.com Report score above 965 = Best
- RentPredict.com Report score 941-965 = Quality
- RentPredict.com Report score 906-940 = Good
- RentPredict.com Report score 851-905 = Fair
- RentPredict.com Report score below 850 = Risky
For $9.95 you can run a search to find the potential residents previous leases and identify whether or not they are in collections.
This is a great tool for investors who want to protect themselves even more. You can view a demo here.
2 Responses to “RentPredict.com - Rental Credit History to Screen out DeadBeats”
Funny how this system figures a 675 bureau score is a high risk???
Normally a 675 score is a no brainer. :)
And the image displayed showa the lates, writeoffs, etc….
If this image is a real world applicant than I would surely have to question what factors are used to judge the applicant with a “675″ score.
By Robbie on Jul 17, 2008
The 675 is explained below. It means the resident is 65% likely to complete their lease.
The score is not based on the numbers a traditional bureau score is based on, but rather goes from 0-999.
By Sarah on Jul 22, 2008