RentRedi partners with TransUnion to provide tenant screening reports that include credit reports, criminal background checks, eviction history, and tenant income and asset verification.
A key part of this process is TransUnion's ResidentScore®— a specialized credit score model designed specifically for tenant screening.
Unlike traditional credit scores, which assess an individual's overall creditworthiness, the ResidentScore focuses on predicting a tenant's likelihood of fulfilling rental obligations, such as paying rent on time and avoiding eviction.
📈ResidentScore Ranges
The ResidentScore ranges from 350 to 850, and is categorized as follows:
Score Range | Category | What It Means |
N/A | No Score | Not enough data to generate a score |
350–523 | Decline | High risk of missed rent or eviction |
524–537 | Conditional | Moderate to high risk |
538–559 | Low Accept | Moderate risk |
560–850 | Accept | Low risk, favorable tenant |
For example, a score above 600 typically signals a lower risk of default, while a score under 520 indicates a higher risk.
🔄 ResidentScore vs. Traditional Credit Score
While both ResidentScore and traditional credit scores range from 350 to 850, their purposes differ:
Traditional Credit Score: Assesses an individual's overall creditworthiness for loans and credit cards.
ResidentScore: Evaluates the risk of a tenant defaulting on rent or being evicted.
Type | Used For |
Credit Score | Credit cards, auto loans, mortgages |
ResidentScore | Rental risk and eviction prediction |
➡️ According to TransUnion, ResidentScore is 15% more accurate at predicting evictions than traditional scores, especially in lower ranges. (read more)
🔍 Factors Influencing ResidentScore
ResidentScore is derived from various credit-related factors, including:
Payment History: Records of timely and late payments across all credit accounts.
Credit Utilization: The ratio of current credit card balances to credit limits.
Credit History: The length and diversity of credit accounts.
Credit Availability: The total amount of credit available to the individual.
Credit Inquiries: The number of recent requests for credit reports.
These factors are tailored to predict rental-specific behaviors, making ResidentScore a more accurate tool for landlords compared to traditional credit scores.
✅ Summary
TransUnion’s ResidentScore is a tenant-specific scoring model that enables landlords to make more informed and reliable rental decisions. By using RentRedi, landlords get access to:
Full Credit Reports: Including ResidentScore to assess rental risk.
Criminal Background Checks: Over 370 million criminal records from state and national databases.
Eviction History Reports: One of the largest eviction databases with 27 million eviction records.
Income & Asset Verification: Plaid-certified proof of tenant income