Difference Between Resident Score and Credit Score

Tenant Check October 9, 2019
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Difference Between Resident Score and Credit Score

There are many things to take into consideration when reviewing a potential tenant for your rental property. When deciding between a credit score product or a tenant screening product it is important to know what is being considered. Here we have outlined what contributes to our Resident Score:

this image shows the difference between the attributes considered for the Resident Score and a Credit Score. 
Resident Score includes Payment history for loans and credit cards
Type, number, and age of accounts
Number and severity of late payments
Number of new credit accounts
How much of your credit you use regularly
Current debt you carry
Hard inquiries on your credit report
Public bankruptcy records
Resident Score is a curated algorithm to best predict evictions. The additional data used includes the following:

Resident records and data
Background report information (which may include criminal records)
Eviction history
Rent Expectations v. Pay Periods targeted calculations
Credit Score includes Payment history for loans and credit cards
Type, number, and age of accounts
Number and severity of late payments
Number of new credit accounts
How much of your credit you use regularly
Current debt you carry
Hard inquiries on your credit report
Public bankruptcy records

Once the information for the potential tenant is input into the application online, a Resident Score is provided. This will range from advising to decline the tenant, accept them conditionally (positive references from previous landlords, positive employment history, etc.), or accept outright.

this image shows the ranges of the Resident Score. the decline section is from a range of 350-523. the conditional section is from 524-537. the low accept section is from 538-559. the accept section is from 560-850.

Making decisions about which applicant gets to live in your rental can be difficult. Using a tenant screening service is going to be the best option. The Resident Score that we offer with Whitepages TenantCheck offers a carefully calculated score that can help you avoid evictions in the future. But following your gut and ensuring that you abide by your local laws is crucial.