We don’t rely on traditional credit scores for many reasons:
- They ignore factors that landlords care about
- They consider factors landlords do not care about
- They are subject to manipulation
Today’s New York Times illustrates how to cheat the system and raise your credit score by piggybacking on someone else’s good record.
This is big business, and a major problem in the mortgage industry, where 1 in 4 loan applications include fraud by way of falsified documents or false credit reports!
You’re asking for trouble if you’re a landlord that uses FICO or relies on a pre-packaged “risk score” from a resident-screening company. These scores can be gamed, whereas our screening reports are not vulnerable to this sort of manipulation.
Get in touch for more ideas on how we can help you rent with confidence.