LeasingDesk Resident Screening Overview

LeasingDesk Resident Screening is a powerful web-based decision tool that provides management with a centralized, standardized way to analyze and approve application decision activity at all sites. LeasingDesk Resident Screening is the most cost-effective web-based applicant screening system on the market today. It incorporates an expert system that synthesizes the advantages of statistical modeling with minimum and maximum thresholds. With LeasingDesk Resident Screening, property managers can reduce delinquency rates and lower economic vacancy rates.

Features

• Straightforward and concise score recommendation on every applicant.
• Flexible scoring model that is controlled by the management company and can be adapted to each property.
• Availability of multiple scorecards to handle all types of applicants, including cosigners, set-asides, and students.
• Advanced scoring logic giving clients the opportunity to filter out certain types of credit such as medical collections.
• Fraud detection, resident history, evictions, NSF check verification, and criminal history built into the scoring model with results returned in less than 15 seconds.
• A comprehensive criminal and eviction database with a full description of the geographical data searched.
• Access to RealPage’s proprietary Renter’s Performance database that includes millions of resident history records including previous monthly rental payment and final disposition information.
• Multi-state "follow me" criminal and sex offender searches. OneSite searches its criminal and sex offender databases based on the applicant’s address, the area where the apartment community is located and all the additional addresses and name variations uncovered on the credit report.
• Fraud detection identifying potential misuse of identity.
• Intuitive user interface with a sophisticated address-matching process that improves the accuracy of credit, criminal, and eviction results.
• Management reports that can be exported to desktop applications such as Microsoft Excel and Adobe Acrobat.
• Marketing sources that are completely user-definable; with this feature, you can run reports that will help you compare the value of each of your marketing sources to the value of the other sources in that category.
• Fixed-fee pricing for credit, resident history, eviction, NSF check, terrorist, sex offender and criminal searches—the best value in the market.
• At no additional cost, provides a database of thousands of terrorist and most wanted fugitive names, aliases, and dates of birth, which are searched from several agency databases.
• Tight integration with OneSite Leasing & Rents. One database, one password, one user interface, and one support resource translate into less training and no finger pointing.
• Integration with other leading property management and online leasing applications including Yardi Voyager, CrossFire Online Leasing and VaultWare.
• More than 20 years of resident screening experience in customer service and consumer dispute resolution.

The Screening Process

When an application is submitted for screening, LeasingDesk Resident Screening accesses a variety of public and proprietary databases, including credit information (the best credit bureau for each area of the country is selected automatically), NSF check history, terrorist data, resident and eviction history and criminal and sex offender information (an optional feature). A rental recommendation is determined by LeasingDesk Resident Screening’s complex scoring algorithm, which is designed to fit each site’s unique needs, and returned usually in less than 15 seconds.

The empirical scoring engine is in its fourth generation and has been independently statistically validated. The scoring engine considers many factors related to previous and current credit histories, income relationships and past rental behavior. Scoring settings can be easily customized to meet each property’s unique situation.

Information extracted from the screening process is reported in an easy-to-read report with a “pass/fail/pass with conditions” format based on the scoring model selected for the site. This report, aided by a traffic signal, makes the leasing decision easy. Red means stop the leasing process, the applicant has been disqualified; green gives you the go-ahead to close the sale; and yellow indicates that a conditional approval is required. LeasingDesk Resident Screening supports multiple levels of conditional approval so that the amount of additional deposit can offset the actual risk associated with the score.

Applicant Screening Capabilities

LeasingDesk Resident Screening features a sophisticated set of screening capabilities. This ensures that every screening decision is applied consistently and helps to reduce delinquencies, bad debts, and fair housing complaints:

• Credit Information—The best credit bureau for each area of the country is selected automatically and full credit verification is obtained. Credit information from the credit bureau is reformatted into an easy-to-understand summary or detailed report.
• Resident History—RealPage’s proprietary renter’s performance database includes millions of records detailing rental payment patterns and final rent disposition information. Rental history (both positive and negative) is incorporated into the overall score of the applicant.
• TeleCheck—The national database of NSF checks is searched, returning clear, immediate results.
• Eviction Records—A proprietary database of eviction records furnishes fast, accurate information on rental prospects’ previous or active eviction proceedings.

Reporting

LeasingDesk Resident Screening also includes a series of analysis reports that help evaluate screening activity and scoring models to assist clients in achieving desired results. These reports include:

• Application Detail—Lists each application and the result for any selected period.
• Lookback—Shows the number and percentage of past approved, conditionally approved and denied results. Also score thresholds to be manipulated to illustrate how changes in scoring settings would impact results.
• Override Report—Uncovers potential scoring or span of control issues by identifying communities, regions or users that exhibit abnormally high score recommendation override activity.
• Result Chart—A line and bar graph showing the results (approved, approved with conditions, denied) by month over a selected period.
• Results by Market Source—Shows results by individual market source and graphs the applications by source category (Internet, media, referral, etc.). The sources are fully configurable by the user.
• Adverse Factor Report—Shows credit scores and the incidence of specific adverse factors such as criminal convictions, negative rental history, evictions, NSF checks, etc. This report also shows graphically the effect these factors have on the overall application decisions.
• Scorecard Summary—Shows results by the different scorecards in use at a property.
• Zip Code Analysis—Shows where applications are coming from and the relative scores by city and individual zip code.

Terrorist Searches

At no additional cost, LeasingDesk Resident Screening provides a database of thousands of terrorist and most wanted fugitive names, aliases, and dates of birth, which are searched from several federal and international agency databases, including the FBI, Interpol, the U.S. Customs Service, the Secret Service, and the Office of Foreign Assets Control (OFAC). In most cases, if there is a match against one of these databases, a picture of the terrorist or fugitive is provided on the screen or in the report to help provide positive identification. A positive identification obviously elicits a major red flag in the automated scoring process, just as an applicant with a history of violent felony convictions does.

Summary

LeasingDesk Resident Screening provides the ultimate flexibility in the way applicants are scored. Comprehensive data combined with flexible and powerful scoring functionality provides clients with the opportunity to increase occupancy and decrease delinquency. Supported by the industry’s most experienced client service representatives, LeasingDesk Resident Screening is the best solution available on the market today.