By: Eric Decker
The traditional tenant screening model is expensive and complicated. The PersonalScreener solution from SS&C is set to streamline the process, save time and money, and revolutionize the industry.
PersonalScreener provides reusable tenant background screening reports. It allows prospective tenants to request their own criminal background, credit, and rental history reports from a third party. The tenant can review the reports for inaccuracies before releasing their personal information through a secure standardized delivery system. The same report can be distributed to unlimited prospective landlords for 30 days.
Traditionally, property managers order an expensive tenant screening report from a third party screening company. These reports are not reusable; they cannot be shared with multiple landlords. The property manager is responsible to maintain the tenant application and report for a specific time period, and address any disputes or false positives that may appear on the report.
The traditional model places a significant burden on low income individuals who may pay multiple screening fees before finding a landlord who will accept them, only to find they lack sufficient funds for the deposit. Additionally, tenants are not given the opportunity to review their reports and dispute inaccuracies before the landlord decides to accept or deny their application. Finally, since these consumer credit transactions are initiated by a third party, they negatively affect an applicant’s credit score for at least one year; the impact on credit score may be compounded if the reports are requested more than one month apart.
The PersonalScreener solution from SS&C is the only platform that offers reusable tenant screening reports, including a credit report, public records, and rental reference checks. This web-based solution allows a prospective tenant to share standardized reports (suited for real estate lease approval) with multiple property owners. PersonalScreener is a quality tenant screening solution for property managers of all sizes, including independent rental owners who often lack access to quality reports.
Our suite of screener applications continues to achieve the industry’s highest standards for compliance and successfully maintains its EI3PA certification using the Payment Card Industry Data Security Standard (PCI-DSS) framework. The EI3PA certification is an annual assessment of an Experian reseller’s ability to protect the information they purchase from Experian. This requires an evaluation of information security by an independent assessor, based on requirements provided by Experian.
For more information on PersonalScreener, please download our brochure, or contact us for more information or a demo at email@example.com or 800-234-0556.