A faster, more affordable solution offers a background report in minutes.
It appears to be the right time to be in the property rental business, as a few recent statistics demonstrate:
- More than a third of U.S. households are occupied by renters, according to the National Multifamily Housing Council.
- Unfurnished apartments in the U.S. now rent for a median price of $1,381 a month, based on data compiled by Statista.
- Revenue for the U.S. apartment rental market has grown at an annual rate of 4.7% since 2011 and now is valued at $173 billion annually, according to IBISWorld.
Managing this demand — on top of managing the rental properties themselves — is hectic and time consuming. Equifax can help ease the burden with a service that helps simplify the screening process for prospective tenants.
Equifax Resident Screening Services provides the tools you need to help make more confident leasing decisions. Help verify identity. Check employment, rental and credit history (using data from all three major reporting agencies). Search a prospective renter’s criminal background and more — all from a centralized easy-to-navigate website that delivers reports in minutes, 24 hours a day.
The service works for any size rental operation — even those with seasonal ups and downs — because report pricing is based on volume. You only pay for what you use when you use it.
To sign up for Equifax Resident Screening Services, you must have permissible purpose to obtain credit information. This means you must either operate a business licensed under property management, be a real estate agent operating as property management for multi-family complexes (apartments), or be a property owner with a business license who manages your own properties under your business name. (Insurance companies do not have permissible purpose to obtain credit information for screening residents.)
Make most of today’s thriving rental market, and tap into the time-saving power of Equifax Resident Screening Services to help simplify your screening process for prospective tenants.