Alpharetta, Ga.—First Advantage, a Symphony Technology Group (STG) company, announced details of its collaboration withExperian RentBureau®, the largest rental payment database in the multifamily industry. Through this strategic collaboration, data from Experian RentBureau is linked to First Advantage’s resident screening solution to help housing providers identify residents who may pose the greatest risk of skipping or making late payments.
As the largest and most widely used credit reporting agency for the multifamily housing industry, Experian RentBureau receives rental payment data daily from a national network of more than 400 property management companies. By integrating this Experian data with First Advantage’s resident screening solutions, property managers will have a thorough, streamlined process to view their applicants’ background information including their positive or negative rental history.
As a result of this enhanced offering, First Advantage clients benefit from receiving rental payment history at the same time as their existing tenant screening data, delivering instant insight into the factors that shape their applicant selection processes. With access to such information, they can recognize habitually late paying residents and identify residents with little or no credit but good rental history. Equipped with this knowledge, housing providers can ensure they rent their properties to individuals most likely to pay on time, while reducing the potential risks of financial losses and additional recoupment expenses.