The Resident Score is a credit score that is formulated by TransUnion specifically for the rental industry. Ranging from 350 to 850, the Resident Score considers multiple factors into the final score.
The Resident Score considers:
- Positive and negative payment history for lines of credit.
- Usage of credit – the amount of credit being used by the individual.
- Credit history – the types of accounts and length of credit history
- Credit availability – the available credit limits
- Inquiry history – the information related to the individual seeking new credit
Of course, you'll want to take into account all of the information that is included on the TransUnion Full Credit Report, but the Resident Score will assign a numerical value to the risk the applicant may pose as a renter.
We also have a blog post discussing the Resident Score that can be found on our website for more detailed information.