Resident Rental Payment History

The Best Predictor of a Resident's Future Rental Behavior

Studies have concluded that the best way to gauge whether an applicant is going to be a good-paying resident is to look at how they paid their rent previously. In fact, the average cost of a resident at the end of their lease term is significantly less when rental history is incorporated into the screening process, compared to the cost of residents who are not checked for rental history performance.

The LeasingDesk resident screening product includes a check against the RealPage resident rental payment history database, the most comprehensive in the industry.

The RealPage rental payment history database includes more than 10 million records, representing every 1 in 4 applicants. The database is updated every 24 hours from rental records collected from more than 20,000 apartment communities across the country that use OneSite and Yardi Voyager property management systems.

Rental Payment History Saves on Cost of Move Outs

	"We were able to reduce the cost of our move outs by a significant amount of money because we were renting to the right people." Scott Seegmiller Chief Financial Officer WestCorp Management Group

Because rental payment information isn’t typically reported to credit bureaus, it is important that it be looked at as a separate component of your resident screening. An applicant who has borderline credit may be declined as a resident based on credit information alone. However, when rental payment history is factored in, that outcome may change.

For example, an applicant who has only a fair credit rating but a good history of paying their rent may be approved with the recommendation of an increased deposit or rent amount. Only the LeasingDesk applicant screening product can isolate credit scores against rental payment history to determine these amounts.

Rental payment information is critical to helping reduce delinquency rates and to securing residents who will most positively impact your bottom line, while minimizing your exposure to fair housing liability.

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