By: Barbra Murray, Contributing CPN Editor
Facing increasing vacancy levels induced by economic unrest, apartment owners are eager to attract tenants--responsible tenants--in order to bolster their bottom line. To that end, owners using TransUnion's rental screening platform have a new tool for evaluating tenants' reliability now that the credit bureau has decided to incorporate RentBureau's proprietary rental payment database as a new feature for vetting prospective renters.
One of the country's three top credit bureaus, Chicago-headquartered TransUnion's timing appears to be right on the mark, given the current state of affairs. "In this economy apartment owners and managers are looking for better information to determine who is a good risk or who is a bad risk," Eric Hartz (pictured), Atlanta-based RentBureau president and CEO, told CPN. "We have built a scoring system for predicting that." RentBureau is a rental data-based credit bureau that caters solely to the apartment industry and holds the distinction of being the first national online repository of rental payment histories. Every 24 hours, the company's database culls rental payment histories from a nationwide network of property owners and managers accounting for approximately 6 million records. "TransUnion is now Rent Bureau Data Illuminated," he said.
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