IRVINE, CA—CoreLogic, a locally based, global property information, analytics and data-enabled services provider, has expanded its tenant-screening services to deliver enhanced data for rental-applicant screenings for single-family rentals and the “small-landlord” market. The expansion of services, offered through myrental.com, leverages the CoreLogic public record and proprietary databases to provide unique applicant data for landlords to assess applicant risk and identify those renters who are most likely to fulfill their lease obligations.
The enhancement provides comparison of tenant scores within geographic areas so that landlords can evaluate applicant risk relative to other applicants in the same region. The comparison also provides accept/decline rates for specific tenant scores within the same geographic area so that landlords can make decisions based on relative rental activity. This is particularly useful for independent landlords who may lack access to data and analytics capabilities to assess risk.
The expanded tenant screening services and enhanced applicant risk score will provide landlords with:
- individual credit scores using “credit push” technology that allows applicants to provide quick online approval for landlords to access their credit report;
- historical data on applicant activity, prior lease obligation performance and previous evictions, going back seven years;
- accept and decline rates among other landlords in the same geographic area and comparison tenant scores in order to compare applicants who share the same risk profiles;
- automatic and guaranteed acceptance for renters insurance, through third-party underwriters, for qualifying applicants through rentersinsuranceselect.com;
- criminal background checks.
According to Pam Storm, SVP of CoreLogic Specialty Credit, “It’s important that as market needs shift, we respond to accommodate the changing dynamics of the landlord market. The growth in the single-family rental market has created a new kind of landlord for whom risk assessment is just as important for large, multifamily apartment communities. Using data and analytics to make smarter, more-informed leasing decisions makes sense for every property owner and manager. Thousands of dollars are at stake. By providing industry-unique analytics tools and other more targeted data, landlords of any size can manage risk effectively and efficiently.”
Expansion has been a theme for CoreLogic lately. As GlobeSt.com reported last week, the firm has closed its acquisition of Marshall & Swift/Boeckh, DataQuick Information Systems and the credit- and flood-services operations of DataQuick Lending Solutions from the Decision Insight Information Group. The acquisitions “significantly expand our footprint in property and casualty insurance and add additional scale to our existing property data and analytics business,” according to Anand Nallathambi, president and CEO of CoreLogic.