SmartMove will not bill an account until we receive an approved authorization from the bank. They already have the functionality built: Next, youll see that theres only a single package to offer to tenants. Youll receive a report identical to the SmartCheck Plus report. This provides instant analysis into a tenants income. All Rights Reserved. Signing up is free, and you pay-per-report. While you arent going to get a guarantee of a tenants salary this way, its a nice extra to have in the report. By tapping into the powerful rental screening capabilities of TransUnion CreditRetriever, the expert screening service for larger management firms, you access the same credit data and decisioning tools, but its online so you dont have the cost of hosting and upkeep. Some landlords (including Brandon Turner of BiggerPockets) love this option. Shame on the vultures and thieves waiting to prey on innocent people. Renter is notified of the landlords decision. The podcast is listed on significant streaming channels including Apple Podcasts, Spotify and more. SmartMove is only for tenant credit and background searches. online tenant screening services for renters, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. The renter should then receive his or her request to consent to the screening. 1 Request a tenant background check You create a free account and send your potential tenant an invite for a background check. Seeing as how the credit report gathers debt information, it would be nice to see that functionality added here. Under the FCRA, companies must conduct free of charge a reasonable investigation of your dispute. Purchasers have the option to print the Payment Confirmation screen after entering credit card information to serve as a receipt if necessary. Most often, the application fees are used to run eviction and criminal data, not just credit information. With a proven record of producing a 15% better eviction prediction than other reports, you can trust SmartMove to get the right people in your property, all at little or no cost to you. Get answers to many frequently asked SmartMove questions below. Finally, it identifies 19% more skips than other scores. Not only does this process keep your personal information private, it also has no impact on your credit score and who doesnt want that? The Resident Score uses, at a minimum, the same information that's factored for a FICO Score or any other credit score. Instead of chasing down employment verification from other busy business owners or risking taking on a tenant with unclear income, SmartMove does all the dirty work for you. Youll have a prospective tenants Resident Score and be able to make a decision quickly and simply. However, it is important to remember this is an estimate and not an actual verification of an applicants income. And if your question isnt answered here, please contact one of our customer service representatives. This makes it so the landlord doesnt have to go through onsite inspections in order to screen a potential tenant. Both TransUnion and Equifax found that about 9 percent of people in the national consumer credit databases have either a tax lien or judgment reported on their credit file. As of July 1st, 2017, the three major credit bureaus began removing judgments and tax liens from credit reports. The Eviction Related Proceedings Report is also simple and direct: The Income Insights report is unique to SmartMove. According to SmartMove, 850 is the best ResidentScore. There is no guaranty that I will get the home if I apply and Agent/Owner can tell me anything he or she wants without providing anything to back it up, even if the Agent/Owner doesnt like the way I tie my shoes Why, because there is very little Anti-Discrimination Laws that protects the rental consumer. Since this is an instant report, pulled directly from a database without any human being verifying the information for accuracy, there is certainly a chance the information is wrong. Never failed. It is essential to find good tenants, and you need to have as much information as possible at your fingertips. An estimated variance between the applicants self-reported income and the Income Insights estimate. As far as we know, were the only tenant screening service in the U.S. offering this add-on to TransUnion Full Credit Report. You can avoid worrying about potential damage and neighbor issues by checking the criminal section provided in the SmartMove report, although this is not available in the five states mentioned above. Check over 370 million criminal records and 27 million eviction records. Landlords often request to view the credit history and criminal record history of an applicant to determine if there is a financial or safety risk before completing a lease agreement with a new renter. Your submission has been received! TransUnion SmartMove is an easy, reliable online tenant screening solution designed to give independent landlords the results they want -- and renters the security they need. If you find information in your consumer report that you believe is inaccurate or incomplete, you have the legal right to dispute the reports content with the consumer reporting company and the company that shared the information to the reporting company, such as your lender. i am in an eviction record for an eviction that never existed and for which there is no legal documentation to prove I have EVER been evicted. 2. by The first step in the process is to create a landlord login, where you are asked to confirm your email and fill out some information. The TransUnion SmartMove report is a great resource that gives you a Resident Score that shows how reliable your tenant is likely to be. You can email the site owner to let them know you were blocked. Either way, most personal identifying information such as a Social Security number is. No, Income Insights analyzes the applicant's credit behavior to determine whether or not it aligns with the income they've self-reported in SmartMove. ResidentScore is designed specifically for tenant screening by TransUnion. Learn more about SmartMove's comprehensive tenant screening service, including key info on SmartMove, competitor comparisons, pricing information, and FAQs. How to dispute an error on your credit report. There is a silver lining thoughour TransUnion Full Credit Report package with the $7.00 add-on for judgments and liens. I think we all know since the housing bubble burst, the rental market has skyrocketed, hence monthly rental prices are overinflated due to the demand. SmartMove is TransUnion's tenant screening service for property owners who aren't property management professionals. Combining the power of consumer reporting data along with algorithms specific to rental residents, SmartMove helps small property management companies, real estate agents and landlords accurately assess your renter. However, all of these products and services are not created equal. Read our review to find out more. Website Phone number Mailing address MySmartMove.com. So far so good. Eviction is an unpleasant experience for all parties involved, but most people dont consider how much it actually costs a property manager. Income insights, only available on the SmartMove platform, gives landlords a quick way to determine if they should dig deeper into their applicants income levels. A downside of the quick processing time of the TransUnion report, is that it does not cover Colorado, Massachusetts, Delaware, South Dakota, and Wyoming as instant background reports are illegal in these states. Nothing much else matters. Blog / Tenant Screening / SmartMove Review: An Industry Expert's Analysis Stephen Michael White Author February 16, 2023 Posted On Tenant Screening Categories SmartMove is one of TransUnion's tenant screening products. Its a bit of a lengthy process, which includes creating security questions as well as 2-factor authentication each time you log in. At the bottom of the screenshot, youll also notice some important fine print. This gives you the data and story that went into calculating an applicants ResidentScore. A criminal background check is included at every SmartMove package tier. Notify tenants about Renters Insurance and verify coverage. We use cookies to ensure that we give you the best experience on our website. Aside from the price-per-report fee, you wont face any additional costs or hidden fees. While the purchaser may see multiple pending listings in the account, only one charge will be deducted after the authorization is completed. The end result is that it is proven to provide 15% better eviction prediction than a typical credit score. Your IP: First, lets address the criminal data not offered in 5 States. Inform applicants about the rental decision with ease. Until 2014, I largely dismissed the TransUnion Full Credit Report product because it did not include eviction data, which is the most critical data a landlord can look at. There are a variety of background and screening services available to help you learn more about your potential tenant before they sign on the leases dotted line. Every time we run a RentPrep Background Check we pay a little extra for the criminal data in those states whereas TransUnion Full Credit Report, also known as SmartMove, omits that data. Luckily, TransUnion SmartMove offers reliable online tenant screening services for renters that want a fast but safe credit approval process from their landlord. The TransUnion SmartMove report is a great resource that gives you a Resident Score that shows how reliable your tenant is likely to be. You wont be priced out of effective tenant screening with expensive tenant screening software. Yes, please contact customer service at 1-866-775-0961 to verify your identity and for further information on how to obtain a copy of your criminal and/or eviction report. 2 Does SmartMove cost? Privacy FCRA Notice U.S. Patent No.8234498. Please contact customer support for information on your reports at 1-866-775-0961. TransUnion Rental Screening Solutions, Inc. All Rights Reserved. So, how much does SmartMove cost? TransUnion searches through a vast amount of information, from credit history, and address databases to eviction information and also presents an informative sidebar that answers common questions about evictions. To accomplish this, first the landlord must log in to their account and click on the Application History tab on the top of the page. The purchaser may contact his or her bank to confirm the charge for the report request with SmartMove or to check on the authorization status. The Agents especially are prying into your personal financial history to see if you may be a candidate to buy a home, or to see if they can up-sell you into a more expensive rental. SmartMove uses the email address entered by the landlord to send the rental applicant an email request. Because the rental applicant initiates the screening, it posts to his or her credit file as a soft inquiry which does not affect his or her credit score. 2023 The SMB Guide Inc, 20 W Kinzie St Chicago IL 60610, TenantReports.com Review Pricing, Comparisons, and FAQs, First Advantage Review Pricing, Comparisons, and FAQs, Avail Review Pricing, Comparisons, and FAQs, Listing 2 Leasing Review Pricing, Comparisons, and FAQs. Weve found that about 40% of ordered TransUnion Full Credit reports, also known as SmartMove, are never completed by the tenant applicant. While large properties can have the resources to absorb the cost of an eviction, this is often not the case for independent landlords who have 1-3 units. Most automated services do not do this; this search requires a human screener. It adds to the bigger picture and gives you an idea of whether the self-reported income matches the spending behavior. 3 Is my SmartMove legit? The SmartMove report is designed to be as clear and easy to understand as possible, and the credit report helps with this. The TransUnion Full Credit Report is a souped-up credit report, it will no longer show 95% of Civil judgments and over half of all tax liens. We see evictions everyday that are filed under an applicants name, but does not belong to that applicant. This article will refer to the SmartMove product as the TransUnion Full Credit Report. SmartMove protects your potential tenants' consumer information while enabling you to screen them. Terms & Privacy | Legal Disclaimer | Sitemap | Contact Us. What is TransUnion SmartMove? Well forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint. Once you begin digging into their reports, youll find that they are visually appealing and easy to read (information is redacted in much of these because of the need to put in real information to get a real tenant screening report back). For renters who are unsure what address the landlord used, we recommend contacting him or her for confirmation. Thats because it looks at their credit history and average expenditures and compares that against their algorithm. Does SmartMove Run a Hard Credit Inquiry? This is an upgrade over the services that send a separate email as a release form. Performance & security by Cloudflare. And the option of who pays for the service, applicant or landlord, is another feature unique to SmartMove that streamlines the screening process. Three factors separate SmartMove from anything else you might find out there. That makes SmartMove a difficult choice if youre in one of those areas. And dont think for a second that the finance companies or credit card issuers arent charging for the screening! Fast approval process TransUnion's verification service conducts your credit check, criminal background check, income estimation and eviction history promptly after initiating the process. After you have gathered completed applications, you need to filter the applicants by screening them according to your own criteria. Cloudflare Ray ID: 7dfffa96af2a3abe Or visit SmartMove here to learn more now. TransUnion is a well-regarded company, and the SmartMove Report is well respected in the Real Estate Industry. Thats for a homeowner, now Id wage that those numbers are even higher for a renter not paying their rent on time. South Carolina is starting to move down this road as well. Get the most out of your rental business with all of RentSpree's best features in one platform. If that doesnt fix the problem, either request that the landlord correct the email address he or she entered or go directly to www.mysmartmove.com and click on any of the Create an Account buttons if an account has not already been created. No. Your situation is becoming more and more common unfortunately. Create property listing pages and share them with your network. Banking Credit Report Sites TransUnion 2.7/5 (2274 reviews) Are you this business? How do you use this product to boost your finances? TransUnion Rental Screening Solutions Inc. 555 W. Adams St., Chicago, Illinois 62249. Even though Zumper uses TransUnion, the creator of SmartMove, to conduct screening checks, Zumper is the more costly option, charging $5.00 more than SmartMove's entry-level plan. The Income Insights estimate changes as new credit information becomes available on the credit report. To keep the process secure, SmartMove is an online service. Dealing with credit bureaus can be extremely frustrating and getting things corrected can feel like an impossible task. Even before you click through to see the standard reports, youll see both the ResidentScore (which they say is 15% more accurate than a credit score at predicting evictions) and then a quick income-to-rent number (the 3.8x number in the screenshot above). You have several resources at your fingertips if you need assistance with your account or have any questions about SmartMove services. Note that the sender will appear as SiteAdmin. Organize contacts and stay connected with your clients. After all, we offer the product and find it the best of the instant credit report options on the market. Having used all three bureaus credit reports (Experian, TransUnion, Equifax) I have to say that TransUnion uses a FICO score model that is much more real estate friendly because it doesnt inflate the scores. Landlords will have to ask more questions to gather data such as: Many landlords will find that essential. If you visit this website from another browser or device and wish to opt out, you'll need to select the cookie settings again. Then, youll be asked to fill out information for the property that you wish to rent: Then, you have the option to auto-decline applicants with bankruptcies in a certain timeframe. This is a type of credit score that is specifically designed for tenant screening services from TransUnion. Thats why eviction history is such an important factor in prospective tenant decisioning. If the landlord has entered the incorrect email address for the rental applicant, he or she can add that renter again with the correct email address and then delete the incorrect renter profile. SmartMove ResidentScore, a proprietary credit score tailored to the rental industry to call risk better than a generic score, puts you in the drivers seat to make a better leasing choice. to 7 p.m. Eastern Time or . 2023, iPropertyManagement.com. Landlords and renters will need to have: If either party does not have access to the Internet, they may wish to consult a local library or management office. I believe between those two services that the TransUnion Full Credit Report is the superior product. I filed a complaint with the attorney general in my state and expect that will be disregarded as well. Contact Us | TransUnion Its SmartMove platform is designed to help independent landlords properly analyze and choose good tenants. You represent about 95% of the landlords Ive ever met, or spoke with. SmartMove Tenant Screening | TransUnion If you doubt me I would be happy to forward you a copy of the report. Sue, I dont think you could have presented a more reasonable argument. SmartMove tenant screening service is also great for prospective renters. Other services may have a renter provide personal identifying information, like a Social Security number or account numbers, directly on a landlords application. You want easily digestible information presented in a clear format, and this is exactly what the SmartReport does so well, all of the information is formatted for mobile or computer, and wherever you have a connection, you can check the report. Landlords receive a TransUnion credit report formatted exclusively for rental screening purposes, a criminal report drawing from hundreds of millions of national and . Furthermore, I dont know a single place that runs all 50 applications if they do get that many people applying for one home. 1 Is SmartMove safe? Plus, an eviction report is the only report thats specific to the rental industry. Id like to add some other variables to the Renters point of view. People can have bad credit and still pay their rent every month. However, there is a way to run a TransUnion Full Credit report and still be able to see Judgment and Liens. An estimate of whether or not the applicants credit behavior aligns with their self-reported income. You dont have to give your information to a potential landlord youve never met, instead you can provide the necessary information through TransUnion, safely and securely online. A recommendation of whether or not to request additional proof of income from an applicant. But regardless of that, the application fee insures that serious inquiries are being made. The advantages SmartMove offers make it a valuable tenant screening service for independent owners and smaller management groups that may not need daily, weekly, or even monthly access to their screening solution. While SmartMove has a proven track record of giving accurate recommendations, the final decision is yours so its useful to have as many details as possible. Because Income Insights uses historical credit data to estimate income, very recent significant income changes may not be immediately reflected. My advice is to see where the eviction was filed (what court) and then make a call to the court. SmartMove boasts a suite of useful tools and features only available on their platform. The perfect screening solution for everyone. While SmartMove by TransUnion is entirely online, it doesnt offer a mobile application for the platform. We see many cases where an eviction is filed and appears on a judgment search, but not an eviction search. This one bothers some landlords and others could care less. This opt out only applies to information collected and shared through cookies, trackers and other technology when browsing this website. A recommendation of whether or not to request additional proof of income from an applicant, such as a recent pay stub. Their service makes the tenant screening process easier and faster for the property owner or manager and the applicant. Not only do neither of us have an eviction of ANY kind, we absolutely do NOT have a criminal history! (If the landlord is new to SmartMove, he or she must create an account and add at least one property. It's Affordable TransUnion SmartMove is a very affordable option, especially when you compare it to other tenant screening services. The SMB Guide is reader-supported. But TransUnion changed that with SmartMovea convenient tailored for property owners who manage properties on a smaller scale. You will also get a recommendation from SmartMove on what they consider the tenant score to be. Youve probably heard of TransUnion, a highly-trusted name in consumer reporting and 1 of the 3 main American credit bureaus. The last step in the SmartMove process is for you to fully evaluate the report before the software notifies the renter of your decision. This program sucks and cost us $90 and a nice place to live. Well, the report is so comprehensive that youll be able to see when and to whom any late payments were made as well as the total number of payments made late. The cost of a credit report is just $24.95, while criminal background checks and eviction history reports cost $19.95 each. Find out what you can expect from a Transunion Smartmove report, including three commonly asked questions, and find out why it may be the answer to your screening challenges. (This is similar to the process involved when a consumer applies for a loan or a credit card.). Your IP: This does not remove the charge or the results, however it does mark the application as complete and issue an email to the renter indicating a decision has been made. This website is using a security service to protect itself from online attacks. Your email address will not be published. Income Insights is a new product launched by TransUnion in April 2018. It offers a lot of essential Tenant screening features which are very useful such as the credit check, and the Resident Score. Instant criminal records are not as accurate (as discussed earlier). Tenant Screening Services | Credit Check Rental | TransUnion SmartMove For consumers, initiating the release of their own data results in a soft inquiry, which does not impact their credit score. For landlords, it reduces the paperwork and long approval process required to initiate a credit inquiry on a consumer. SmartMove by TransUnion is a simple but powerful service that enables landlords to easily vet applicants, get critical information fast, and determine risk more accurately. It will not impact or damage your credit score. SmartMove is an online screening service for independent landlords and their rental applicants. As for your thoughts on charging application fees many states impose restrictions on what landlords can charge. SmartMove examines the prospective tenants credit profile and will give the stamp of approval or denial to each applicant based on your criteria. Unfortunately, it is likely that if a tenant has been unreliable in the past that they will be again in the future. Thats why TransUnion offers SmartMove, a comprehensive tenant-screening platform for property owners. Now for a rental I have given many critical data here credit card, sssn etc. When you order the report, also known as SmartMove, the sequence of events looks like this: This oversimplifies the TransUnion Full Credit Report ordering process, but I want to address the gap between Step 2 and Step 3. Once the landlord has added the correct email as a new renter profile, he or she should delete the prior renter profile reflecting the incorrect email address. To contact us about our solutions for government, email us at government@transunion.com: SmartMove: Phone: 866-775-0961 Mon. TransUnion is a well-regarded company, and the SmartMove Report is well respected in the Real Estate Industry. - Fri., 9 am - 8 pm EST Sat., 10:30 am - 7 pm EST: Healthcare: Healthcare Customer Support Phone: 877-347-5644 Email: healthcaresupport@transunion.com: TransUnion Direct: Technical support for current customers . They'll be able to let you know if it is legitimate or not. Performance & security by Cloudflare. This was due to the creation of the National Consumer Assistance Plan. It all depends on what youre looking for with a screening service. When a purchaser checks his or her bank account, payment authorizations will often be listed as pending. Are SmartMove Tenant Screening Reports Accurate? Small property management operations and alike using SmartMove benefit from years of expertise and thoroughly-researched methods of tenant applicant analysis.
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