CIC, a nationwide leader in tenant screening for the multifamily housing industry, recently partnered with Experian® to launch ApplyConnect, a free tenant screening solution for real estate agents. ApplyConnect builds on a process created by Experian whereby credit reports can be requested and viewed on an individual basis and combines it with CIC's industry leading tenant screening products.
ApplyConnect combines a comprehensive tenant background check that provides a complete credit report with the VantageScore 3.0® scoring model. The tenant screening report includes a nationwide criminal records search, including the sex offender registry, and eviction history provided by the most comprehensive eviction records database in the U.S.
With ApplyConnect, the same tenant screening products available to large property management companies are now available to real estate agents at no cost. Free, comprehensive and secure tenant screening allows real estate agents to save time and money.
There are no setup fees and no onsite inspection is required to use ApplyConnect. With traditional tenant screening services, the time it takes for the credit bureau to establish an account can range from several days to a week. ApplyConnect provides real estate agents with an alternative to traditional tenant screening by delivering the credit report and tenant background check within seconds of an applicant's approval to share their background check.
Not all tenant screening solutions can work with individuals with minimal credit history. By using the VantageScore 3.0 scoring model, ApplyConnect can help you find qualified renters that other tenant screening services might overlook. VantageScore 3.0 is able to generate a score based on less information than other credit scoring models, such as FICO®, allowing for approximately 35 million more consumers to be scored.
By simplifying the process, real estate agents no longer have to deal with the hassles of traditional tenant screening. Applicants and real estate agents can now quickly share tenant screening reports through a secure online system.
Not only does ApplyConnect simplify tenant screening, but as a consumer-initiated product, it is the first of its kind to deliver all the elements needed to evaluate a potential renter's credit report and background check with zero impact on the applicant's credit score. The credit check is considered a soft inquiry as the applicant chooses to share their credit report with a real estate agent.
Thoroughly examining an applicant's credit report and background check can help mitigate the risk of unwanted scenarios, such as late rental payments and property damage. As the rental market continues to see growth, ApplyConnect will continue to help real estate agents turn qualified applicants into great renters, saving them time and money through free and comprehensive tenant screening. For more information about the benefits of ApplyConnect for real estate agents, please visit www.ApplyConnect.com.