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What Does a TransUnion Smartmove Report Show? - YouTube
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hey everybody i'm mac from rentspreet
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here today to talk to you guys about
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what exactly a transunion smart move
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report
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shows an agent a landlord or an owner to
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help them determine
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the best tenant to rent their property
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to as a landlord
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a rental agent or a property owner it
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could be extremely difficult to make an
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educated decision
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on finding the best tenant for your
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property and
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luckily with rent spree we make this
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greeting process
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so easy all you have to do is enter the
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tenant's email address
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and they get sent the prompt to start
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the screening process
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which then is delivered straight back to
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your inbox and everything is online
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so what exactly is included in a
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transunion smart move report
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well it's made up of four key components
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one the resident score
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two a credit report three
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an eviction report and four a criminal
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background check
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let's briefly break down each one of
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those components
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to discuss a little bit more about what
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that all means so
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what is a resonance score the resident
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score is a key indicator in the smart
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move report
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and is determined very similarly to how
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a credit score is determined with a
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resident score
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however the formula gives you a number
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between 350
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and 850 which then helps the landlord
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owner or rental agent determine the risk
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versus reliability for a prospective
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tenant
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so now let's talk about the credit
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report transunion is one of the major
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credit bureaus so of course
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their credit report is going to be very
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comprehensive and it's going to give you
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an insight into prospective renters
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financial reliability
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as well as their spending habits also
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included in the smart move report is
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eviction history
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now unfortunately if a tenant has been
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evicted in the past it could be likely
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that
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they could run into that sort of issue
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again in the future so you're going to
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want to know some past issues that a
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prospective tenant has had in the past
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and trans union smart move digs into a
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vast amount of information
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to help serve up whether or not a
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prospective tenant
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has had eviction problems in the past
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they'll also identify any other
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worrisome behavior such as if there's a
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previous history of unlawful detainers
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tenant judgments for rent and of course
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criminal behavior now that leads us into
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the criminal check
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portion of the smart move report so of
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course as a landlord
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or an owner you want to protect both the
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property
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and your financial security when
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determining the best tenant to rent to
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transunion checks over 370 million
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criminal records
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as well as a variety of databases
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including the most wanted list the
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national sex offender
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public registry and collects this
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information in an easily understandable
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report now let's get into three common
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questions that people typically have
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about the smart move report
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first up is the resident score what
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exactly is
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that now we went over briefly before
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let's dive a little bit deeper into how
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smart move determines the score so the
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resident score at minimum uses the same
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information
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that is factored into a fico score or
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any other credit score
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the residence score also analyzes
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resident records
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and uses additional rental data that's
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tailored specifically
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for resident screening because of this
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it is a better predictor of rental
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outcomes now the biggest difference
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between a resident score
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and a credit score is that traditional
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credit scores are used to determine the
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outcome of a loan
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versus a resident score which is used to
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determine
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rental performance another popular
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question about the transunion smart move
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reports is do they expire
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the answer is yes those reports expire
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after 30 days
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and that's a transunion policy to help
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protect the applicant's data
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now one of the biggest questions that we
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get at rentsbury in regards to the
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transunion smart move
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reports is is this going to damage my
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credit score
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fortunately the answer is no because
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transient smart move uses a soft
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credit inquiry for their reports so
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there is no damage to your credit score
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at all once these reports are pulled so
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that does it for this video on
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the transunion smart move reports if you
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have any other questions
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drop them in the comments below and of
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course visit us at www.renspree.com
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