How can landlords make better tenant choices? TransUnion SmartMove helps landlords screen tenants with checks on credit, criminal, and eviction records. This article will cover how SmartMove works and its key features.
Key Takeaways
TransUnion SmartMove simplifies tenant screening for independent landlords by offering comprehensive reports, including credit histories, eviction records, and criminal background checks.
The service features a unique scoring model, ResidentScore, which effectively predicts eviction risk, enabling landlords to make well-informed tenant selections.
With a user-friendly online platform and customizable reporting options, SmartMove helps landlords streamline their screening process and efficiently manage costs.
Introduction to TransUnion SmartMove
TransUnion SmartMove is a tenant screening service specifically designed for landlords and property managers. As one of the three major credit reporting agencies, TransUnion brings a high level of credibility and trust to the SmartMove service. This service aims to help landlords protect themselves from bad tenants, fill vacancies quickly, and maintain a good living environment.
Landlords must assess their business needs and the type of information required when selecting a tenant screening solution. TransUnion SmartMove offers a range of reports, including credit histories, eviction databases, and criminal background checks. SmartMove offers the flexibility for landlords to decide if they or the tenants will cover the screening costs, aiding in cost management.
The target audience for TransUnion SmartMove includes independent landlords and smaller property management companies who need a reliable and thorough tenant screening service. SmartMove simplifies the tenant screening process by offering comprehensive reports and utilizing TransUnion’s extensive database to assist landlords in making informed decisions.
Key Features and Claims
TransUnion SmartMove boasts a range of features designed to provide landlords with comprehensive tenant screening reports. The reports cover credit histories, eviction records, and criminal background checks, which are vital for informed tenant decisions. The service emphasizes its ability to conduct comprehensive background checks by accessing millions of criminal records, thereby helping landlords avoid approving high-risk tenants.
One of the standout features of SmartMove is the ResidentScore®, a proprietary scoring model that predicts potential evictions more effectively than traditional credit scores. The score provides landlords with insights into a tenant’s likelihood of fulfilling lease obligations. SmartMove also verifies self-reported income using TransUnion’s proprietary model, improving income assessment accuracy and minimizing payment risks.
We will explore the real-world application and effectiveness of these features in the following sections to determine if TransUnion SmartMove meets its promises.
Target Audience
TransUnion SmartMove is primarily designed for independent landlords and smaller property management companies. These users often lack the resources of larger property management firms and need a reliable, easy-to-use tenant screening service. SmartMove simplifies tenant screening for small property owners by providing access to essential credit, criminal, and eviction history reports.
Using SmartMove, landlords can reliably evaluate tenants and secure their rental investments. The service assists real estate professionals in making informed tenant screening decisions, promoting a harmonious living environment.
SmartMove provides the necessary tools to streamline tenant screening efforts for both seasoned property owners and newcomers to the rental market.
Getting Started with TransUnion SmartMove
Creating a free account and starting tenant screening with TransUnion SmartMove is quick and straightforward. Setup involves signing up for an account, inviting an applicant via email, and choosing the desired reports. Once the applicant completes the necessary steps, landlords typically receive the screening results on the same day.
A key advantage of SmartMove is its entirely online operation, making the tenant screening process paperless and convenient. Landlords can initiate tenant screenings online, eliminating the need for physical paperwork and reducing the time and effort required to screen tenants. This streamlined approach enables landlords to concentrate on other critical aspects of property management.
SmartMove also allows landlords to pass tenant screening costs to applicants, further simplifying the application process. This flexibility ensures that landlords can manage their screening expenses effectively while providing a seamless experience for prospective tenants.
Tools and Requirements
Landlords need a stable internet connection to use TransUnion SmartMove effectively, as the service’s online nature requires reliable access to complete screenings without interruptions. However, it is important to note that SmartMove does not offer integration with other property management software, which may limit its operational flexibility.
Having the right tools is essential for effectively setting up and using TransUnion SmartMove. Although user-friendly, landlords should ensure they have the technical resources and understanding to navigate the platform and interpret reports accurately. Proper preparation helps landlords maximize the benefits of the SmartMove service and achieve their tenant screening goals.
Safety and Compliance Checks
Safety and compliance are crucial in tenant screening, and TransUnion SmartMove addresses these concerns seriously. Applicants must consent online to share their screening results with landlords, ensuring transparency and adherence to legal requirements. This consent is mandatory for SmartMove to run the necessary reports.
TransUnion SmartMove complies with data protection regulations and follows Fair Credit Reporting Act (FCRA) procedures to ensure background information accuracy. Under the FCRA, individuals have the right to dispute inaccurate information in their SmartMove reports and credit reports. This compliance ensures that landlords use tenant screening reports responsibly and that applicants’ rights are protected.
Landlords should ensure their use of tenant screening reports aligns with permissible purposes as defined by the FCRA. Adherence to these regulations ensures SmartMove’s screening process is safe and compliant, offering peace of mind to both landlords and applicants.
User Interface and Navigation
TransUnion SmartMove’s user interface and navigation have received mixed reviews. Some users find the interface somewhat outdated, lacking modern design elements that could enhance the user experience. Compared to competitors like Intellirent, SmartMove’s navigation experience is reported to be more complex and challenging to navigate.
The format of screening reports varies across services, affecting the ease of interpretation for landlords. Although SmartMove provides comprehensive reports, its presentation and navigation could be improved for a more intuitive and user-friendly experience.
Report Customization Options
A strength of TransUnion SmartMove is the ability to customize screening reports to focus on specific criteria. Landlords can adjust the reports to include income verification, rental history, and other relevant attributes based on their specific needs. This flexibility enables landlords to tailor the information they receive, leading to more informed decision-making.
Some platforms allow landlords to customize screening criteria, including options for income verification and background checks. By choosing the precise information needed for evaluations, landlords ensure decisions are based on the most relevant data.
SmartMove also offers the flexibility of deciding whether the tenant or landlord pays for the screening, influencing report customization and management. This option adds another layer of convenience for landlords looking to streamline their tenant screening process.
Data Security Measures
TransUnion SmartMove prioritizes data security. The service uses encryption to secure personal information during transmission, ensuring sensitive data remains protected. This encryption helps prevent unauthorized access and protects the integrity of the screening process.
TransUnion SmartMove employs secure servers with strict access controls for data storage. These measures guarantee safe storage of personal information, accessible only to authorized personnel.
Implementing robust data security measures, SmartMove ensures landlords and applicants peace of mind regarding information protection.
Speed and Efficiency of Reports
A notable feature of TransUnion SmartMove is its speed and efficiency in generating tenant screening reports. Once the applicant completes identity verification, reports are often delivered within minutes. This quick turnaround enables landlords to make timely, informed decisions about potential tenants.
Most landlords receive reports on the same day, facilitating prompt decision-making and reducing tenant screening time. SmartMove allows landlords of larger properties to process numerous applications simultaneously, simplifying the screening process and enhancing efficiency.
Fast and efficient reports from TransUnion SmartMove help landlords streamline tenant screening efforts and focus on other critical property management aspects.
Accuracy and Reliability of Data
Accurate and reliable data from TransUnion SmartMove is crucial for informed tenant decisions. SmartMove accesses a vast database containing millions of credit histories and criminal records, ensuring comprehensive background checks. The eviction report utilizes a nationwide database covering all 50 states, aiding in tenant evaluation.
SmartMove’s proprietary ResidentScore predicts eviction risk more accurately than traditional credit scores, giving landlords a reliable metric for assessing potential tenants. However, reporting errors can occur, ranging from minor inconveniences to significant impacts on housing opportunities.
Despite potential challenges, SmartMove is highly reliable in data accuracy, helping landlords make well-informed tenant decisions.
Real-World Application
TransUnion SmartMove is a valuable tool in real-world tenant screening scenarios. The service’s customizable data screening enables landlords to focus on specific tenant attributes relevant to their needs, such as income verification and rental history. Customization ensures landlords receive the most pertinent information for their decision-making process.
The Income Insights report assesses the legitimacy of reported incomes, reducing payment issue risks and giving landlords confidence in their tenant selections. Leveraging SmartMove’s comprehensive reports and customization options, landlords can efficiently screen applicants and secure reliable tenants.
Streamlining Tenant Management with PayRent
While TransUnion SmartMove provides exceptional tenant screening capabilities, landlords can further optimize their rental operations by integrating PayRent, a comprehensive rent collection platform. By combining SmartMove’s screening tools with PayRent’s advanced rent management features, landlords can create a robust, end-to-end rental management system.
Seamless Tenant Onboarding and Financial Protection
After using SmartMove’s ResidentScore to identify low-risk tenants, landlords can leverage PayRent’s RentDefense™ features to add an extra layer of financial security:
Bank Balance Verification: Confirms tenants’ financial stability beyond credit scores
Backup Payment Methods: Automatic failover ensures rent is collected even if primary payment fails
Scheduled Payment Requirements: Reduces late payment risks
Automation and Efficiency
PayRent complements SmartMove’s efficiency by automating critical rental management tasks:
Automatic invoicing and rent reminders
Real-time payment tracking
Direct bank deposit of rental payments
Comprehensive reporting for accounting purposes
Enhanced Tenant Screening Marketplace
PayRent offers an integrated tenant screening marketplace, allowing landlords to:
Purchase background checks
Verify criminal history
Access credit score reports
Seamlessly combine screening and rent collection in one platform
Integrating SmartMove and PayRent: A Comprehensive Approach
By using TransUnion SmartMove for tenant screening and PayRent for rent collection, landlords can:
Reduce screening and payment-related risks
Save time through automation
Maintain clear financial records
Create a smoother rental experience for both landlords and tenants
While SmartMove provides the critical first step of identifying reliable tenants, PayRent ensures a streamlined, secure rental payment process. Together, these platforms offer independent landlords a powerful toolkit for successful property management.
Challenges and Issues Encountered
Although TransUnion SmartMove offers many benefits, it is not without challenges and issues. Background check errors can arise from input mistakes, mixed files, and identity theft, affecting report accuracy. About one-third of consumers face reporting errors from tenant screening services like SmartMove each year.
Inaccurate data or report errors can result from the speed of report delivery in TransUnion SmartMove. If errors occur in a SmartMove report, users may need additional screening or another third-party tool. These challenges highlight the importance of verifying screening report accuracy and being ready to address any issues.
Despite potential issues, SmartMove remains a reliable tenant screening option if landlords are vigilant in reviewing and verifying reports.
Overall Assessment
TransUnion SmartMove is considered a reliable and thorough tenant screening option, offering essential services for landlords. The service generates comprehensive reports, including credit checks, criminal history, eviction records, and income insights, enabling landlords to make informed decisions.
SmartMove’s online process allows for quick tenant evaluations, facilitating prompt decision-making and reducing screening time. The custom scoring model, ResidentScore, predicts eviction risk better than traditional credit scores, giving landlords a valuable tenant assessment tool.
Overall, TransUnion SmartMove offers a robust and reliable tenant screening solution, helping landlords and property managers maintain a harmonious living environment.
Value for Money
TransUnion SmartMove offers a range of pricing options to suit different landlord needs, providing value for money. The pricing starts at $25 per rental screening for the Basic package, with more comprehensive options available at $40 for Plus and $47 for Premium. This tiered pricing structure allows landlords to select the level of detail they need without paying for unnecessary features.
A significant advantage of SmartMove is that landlords can pass screening costs directly to applicants, making the service more affordable. With no hidden fees and a straightforward pricing model, independent landlords and property owners can make informed decisions affordably.
Compared to other tenant screening solutions, SmartMove offers a competitive and cost-effective option for thorough tenant evaluation.
Summary
In summary, TransUnion SmartMove stands out as a comprehensive and reliable tenant screening service. With its robust features, including credit checks, criminal background checks, eviction records, and the proprietary ResidentScore, it equips landlords with the tools necessary to make informed decisions. The ease of setup, speed of report delivery, and data security measures further enhance its appeal.
While there are some challenges and potential issues with report accuracy, SmartMove’s overall benefits make it a valuable tool for landlords and property managers. By providing a cost-effective and efficient solution, TransUnion SmartMove helps ensure that rental properties are filled with reliable and trustworthy tenants. For those looking to streamline their tenant screening process, SmartMove is a worthy consideration.
Frequently Asked Questions
How quickly can I start screening tenants with TransUnion SmartMove?
You can start screening tenants with TransUnion SmartMove within minutes by creating a free account online. It’s fast and paperless, allowing you to streamline your tenant selection process effortlessly!
What types of reports does TransUnion SmartMove provide?
TransUnion SmartMove provides essential reports that include credit histories, eviction records, and criminal background checks, giving you the confidence to make informed decisions. Embrace the power of knowledge in your rental journey!
Can I customize the screening reports to focus on specific criteria?
Absolutely! You can customize your screening reports to highlight specific criteria like income verification and rental history, ensuring you find the perfect fit for your needs.
How secure is my data with TransUnion SmartMove?
Your data with TransUnion SmartMove is highly secure, as they utilize encryption during transmission and maintain strict access controls on their servers. Rest assured, your information is well-protected!
What are the costs associated with using TransUnion SmartMove?
Using TransUnion SmartMove can be cost-effective, starting at just $25 for the Basic package, with options for Plus at $40 and Premium at $47. You can also empower your applicants by allowing them to cover the screening costs!
SIGN-UP FOR PAYRENT
- Control when and how renters pay you
- Automatically remind tenants when rent is due
- Accept bank transfers and credit cards
Dave is a seasoned real estate investor with over 12 years of experience in the industry. Specializing in single-family residential real estate, David’s strategic approach combines market analysis, financial acumen, and a deep understanding of urban development trends to maximize investment returns.
