ResidentScreening Just Got Even Better

Will my pricing change?

No. As part of our commitment to providing you the best screening available, ResidentScore 4.0 is available at no additional cost.

What are the benefits of ResidentScore 4.0?

We’re very pleased to announce ResidentScore 4.0 offers you several benefits, all of which can help increase your NOI. ResidentScore 4.0 predicts bad outcomes (evictions and skips) approximately 1% better than our previous model and up to 7%* better than standard credit models (i.e., approximately $3** savings per unit annually compared to ResidentScore 3.0 and $21** savings per unit annually compared to standard credit scores). Thus, you can better predict resident behavior — helping you accept the best residents, reduce eviction risk and increase overall profitability.

What’s the main new feature of ResidentScore 4.0?

We’re excited to share ResidentScore 4.0 can now better predict the likelihood of bad outcomes (evictions or skips) for 24 months from signing a lease agreement, which is 12 months longer than our previous model. That means you’ll be better positioned to lower the risk of vacancy with applicants who are best fits for a longer-term lease.

What is the possible score range?

All ResidentScore models, including ResidentScore 4.0, use a score range of 350 to 850.

How does this affect the way I use the ResidentScreening website?

There are no changes to the way you interact with the ResidentScreening website.

How does this impact the screening integration I use through my property management software?

There are no changes to the way you perform screening through your property management software.

How will ResidentScore 4.0 impact my recommendations?

ResidentScore 4.0 uses the same score range and distribution of applicants as our previous model. This means we expect roughly the same number of applicants will fall into each range of scores, keeping your accept/decline ratio stable and requiring no changes to your decision point thresholds. However, because that cannot be guaranteed, you retain the ability to revisit your approved recommendation specifications we can then use to make recommendations.

Rest assured, your account management team will be monitoring recommendations closely and contact you if they feel adjustments to your decision points are needed. 

What happens if I rerun an existing application?

For 90 days after ResidentScore 4.0 launches, if you rerun an applicant and select the “use existing” option, the existing credit report and ResidentScore 3.0 performed prior to launch will be used to complete the credit screening.

However, if the applicant’s personally identifiable information (PII) is changed or “use existing” is not selected, a new recommendation based only on ResidentScore 4.0 will be returned.

In all other cases, a new credit report, including ResidentScore 4.0, will be used.

What do I need to do for the upgrade to take effect?

Nothing — we’ll take care of everything. After you’ve been upgraded, simply sign in to ResidentScreening like always, but now you’ll enjoy improved screening, stronger net operating income (NOI), more predictive resident behavior and potentially fewer evictions.