Many Landlords, including Harbor Club Apartments, rely upon "Rental Scores", provided by Screening Reports Inc , as a guide to estimate the relative financial risk of leasing an apartment to you. In addition to estimating risk, rental scores are an objective and consistent way of reviewing relevant applicant information, and help speed the application approval process.
How is my rental score determined?
Rental scoring systems assign points to certain factors identified as having a statistical correlation to future financial lease performance. Your rental score results from a mathematical analysis of information found in your application data, credit report data and Screening Reports Inc data (previous rental history). Such information may include your bill-paying history, the number and type of accounts you have, collection actions, outstanding debt, income, and the number of inquiries in your consumer report. The final number, or rental score, represents an estimated level of risk as compared to the performance of other consumers in a range of scores.
Because your rental score is based upon real data and statistics, it is more reliable than subjective methods of evaluating your information. Rental scoring treats all applicants consistently and impartially. Additionally, your rental score never uses certain characteristics like-- race, color, sex, familial status, handicap, national origin, or religion as factors.
How is my rental score used?
Rental decisions are based upon how much risk a landlord is prepared to accept. Each landlord, therefore, sets the minimum score required for approval of an application. It is possible for your rental score to yield different results depending upon where you apply. Your rental score might mean a denial at one property, while the same score might be approved at another. Criminal history may also affect the final approval decision. Harbor Club subscribes to Screening Reports Inc criminal Background Search, which categorizes charges and convictions and the resulting accept/decline decision will vary depending on the type and severity of any crime(s) committed. (example: a driving without insurance record would be viewed differently than illegal drug activity or crimes against another person)
What can I do to improve my rental score?
Your rental score may change if the underlying information it is based upon changes. To improve your rental score, concentrate on paying your bills on time, paying down outstanding balances, and not taking on new debt. Your chances of approval should also improve if you apply for an apartment with lower monthly rent.
Where can I have my score explained?
Should your application be denied based upon your rental score, you can learn which factors most negatively influenced your score by contacting the consumer reporting agency listed below. Additionally, you can obtain a free copy of your consumer report, if you make the request to the consumer reporting agency within 60 days of the denial.