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Apartment managers can now screen potential tenants in seconds versus three or four days, thanks to SafeRent Inc., a Denver-based company that Provides online credit and risk management services to the apartment industry
With SafeRent Applicant Screening, apartment owners simply enter a few pieces of information on the Internet and in about 30 seconds they have a three-digit risk score showing if the applicant should be accepted, accepted with conditions or declined.
Screenings are based on a credit-sconing model from actual renter histories and data from apartment owners. Professors from Harvard University and Dartmouth College developed SafeRent's formula.
The model evaluates applicants on hundreds of characteristics proven to predict renter performance. The method, called credit scoring, is similar to screening methods used in the mortgage, insurance and credit card industries.
SafeRent checks applicants for fraud evictions, late payments and even criminal records. All property managers need is an Internet connection.
Rick Kopp, director of marketing communications, said SafeRent lets apartment managers fill vacancies quicker and it lets them know they're "making the best choices possible for their property."
Kopp said it also increases net operating income, reduces risk, improves operational efficiency and helps...