Evaluating a Credit Report
Your applicant has a Visa card. Why do you care?
Each retail credit bureau in the U.S. (Experian, Equifax and TransUnion) has a method of scoring a person's retail credit record. The focus of the scoring system is the persons "creditworthiness." In other words, they look only to the retail credit information to help determine if the person whose record is being scored is a good credit risk or not. Should the bank lend this person money? Should the bank issue this person a Visa card? Should GMAC finance an auto purchase? That's all good information, but these considerations have little to do with whether or not the applicant will be a good resident in your rental.
The NTN Instant Score: From creditworthiness to tenant worthiness.
NTN has developed a very simple and straightforward technique that helps landlords and managers determine the applicant's "tenant worthiness."
Takes into account facts showing the applicant's stability as a tenant:
- How long has this applicant been employed?
- How long has the applicant lived in the current residence?
- Can the applicant afford the rental?
You can also choose for traditional IRSS to base the applicant score on retail FICO score ranges.
To solve the need to safeguard sensitive consumer data, NTN DecisionPoint serves the interests of managers of multi-unit properties who desire confidentiality of credit information and individual landlords who have not met all credit bureau requirements. NTN DecisionPoint scores are based on an in-depth analysis of the applicant's credit and eviction and lease violation history:
- Has the applicant ever been evicted?
- Does the applicant have a habit of skipping or violating rental agreements?
These are far more relevant measures than credit alone, of whether or not an individual will be a good tenant. Use of the NTN Score provides a sound basis for the rental decision and avoids damaging Fair Housing Act complaints.
NTN DecisionPoint Plus
Designed for the fully credentialed subscriber to provide all the analytical and scoring benefits above PLUS the applicant's full retail credit report for review.
Ask your local NTN office to flag your account for the NTN Instant Score today.