SANTA ANA, CA - CoreLogic, a leading provider of information, analytics and business services, today opened online access to comprehensive tenant screening data for independent landlords with the launch of MyRental.com.
The new service provides the same applicant rental histories, eviction data, and criminal reports to small landlords who rent properties independently as those large apartment complexes and property management companies use to mitigate renter-applicant risk. Where services like these previously seemed cost prohibitive, the rates as low as $10 per assessment—with no minimum and no sign-up fee—MyRental.com gives independent landlords managing a small number of properties a way to cost-effectively compete for high-quality tenants while reducing their exposure to risk.
"The recent growth in U.S. rental households is sparking demand for risk management tools tailored for independent landlords," said Tim Grace, senior vice president of data & analytics product management at CoreLogic. "Previously, small landlords relied on their instincts, a few documents, and applicant-supplied character references to assess rental applicants. Now they have a tool to limit uncertainty and accelerate decision-making with more reliable information to qualify renters."
CoreLogic SafeRent® is the foundation for the MyRental.com services. SafeRent is an industry leader in resident screening and scoring, providing data on almost six million apartments and 39,000 properties in all 50 states. MyRental.com shortens verification times—eliminating the need to contact multiple sources for credit and rental histories—and improves the ability of a landlord to make consistent leasing decisions.
"Very high-risk and very low-risk rental applicants are easy to spot but the majority of applicants are average risk," said Bagrat Bayburtian, vice president, product management at CoreLogic. "By basing their decisions on a few factors—income, references and bank information—landlords accidentally eliminate high-quality tenants. Independent landlords now have access to tenant scoring from MyRental.com to help avoid these mistakes."
MyRental.com offers a predictive score which indicates the likelihood that the applicant will satisfy the lease. Using inquiry, credit, and eviction data, MyRental.com generates a three-digit score that summarizes the potential risk of the applicant. Just like a credit score predicts the likelihood that a loan will go unpaid, the tenant score from MyRental.com returns a three-digit number that indicates the risk that an applicant will not fulfill their lease. This screening solution enables each property manager to set the risk level that is acceptable to their property.
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves.