CREDIT EVALUATION DEFINITION
What We Evaluate:
ScreeningWorks has developed an easy-to-use and understand credit evaluation scale based on YARDI Resident Screening's over 20 years of experience evaluating credit for millions of rental tenants.
YARDI Resident Screening uses a unique scoring system specifically geared towards evaluating credit for tenancy. Factors include:
- How recent was the credit problem?
- What type of credit problem was it?
- How much money was involved?
- And, for late payments, how late was it?
An applicant's "Credit Evaluation Risk" falls in a scale with ratings Minimal, Elevated or Serious Credit Risk (See example above). Click on the levels below for details on how ScreeningWorks comes up with these ratings:
Please Note: In compliance with the National Credit Bureau's consumer information protection requirements, ScreeningWorks is unable to provide small landlords with a full credit report or a FICO credit score.
What We Don't Evaluate:
There are some credit items that are known to not be indecative of rental payment behaviou. As a result, the following items are filtered out of each applicant's credit report when determining their level of credit risk:
- Medical debt
- Credit problems over 3 years old
- Credit problems with balances that have been paid off (excluding late payments)
- Closed/Discharged bankruptcies over 6 months old
Our customized scoring system offers the best way to predict how they will perform as tenants at your property. Please note that ScreeningWorks does NOT provide a recommendation of whether or not to accept an applicant. ScreeningWorks simply provides you with comprehensive information and insight into each prospective applicant.
To view a full sample screening report click here.