What’s a Tenant Data Company?
You might have heard of a Tenant Screening Company before, but you might not have heard of a Tenant Data Company. That’s because we coined the phrase. We offer Tenant Screening Services… with a twist. Our data collection and analysis is so superior to a simple paper, one-dimensional application, that we knew we were re-defining the industry.. The data that we gather and how we analyze it requires that we distinguish ourselves from the run-of-the-mill tenant screening companies.
Let’s compare the two. Are tenant screening companies bad? Of course not! We just believe there is more to tenant screening than just showing the raw data from an individual applicant.
| A Typical Tenant Screening Company | Partnyr as a Tenant Data Company |
|---|---|
| Lets you order a credit report and returns a multi-page PDF of ALL credit data on an applicant. | Partnyr summarizes the relevant data on a credit report that makes up a good tenant into a Debt Score – Saving time of going through line by line of a multi-page report and being more respectful of the applicant’s credit data. |
| Lets you order a criminal background check. Some only check an applicant's current county’s database, instead of verifying with a national database. | Partnyr summarizes criminal activity and searches national criminal databases. We summarize the offense without giving up ALL The information that could be used against a tenant to hurt their reputation. Criminal background info is scored based on how long ago the offense happened.. We derive this data into a Criminal Score. |
| Lets you order an eviction report. | Partnyr summarizes the eviction data and scores it. Evictions in the distant past penalize a prospective tenant’s score less than evictions closer to the current date. We derive this data into an Eviction Score. |
Two other checks that landlords or property managers SHOULD do: Check for proof of income, and talk to previous landlords. Let’s look at those.
| Landlord / Property Manager Manual Process | Partnyr as a Tenant Data Company |
|---|---|
| Income Verification: Usually an afterthought – manager just asks what an applicant makes or asks to upload a ton of reports or tax forms. | Partnyr collects income details and does its best to verify the data while also prompting the applicant to upload proof of income. We validate it in house and report on whether it is accurate, and whether it can be trusted. We derive this into an Income Score. |
| Previous Landlord Interviews – This is very time consuming as it often requires multiple attempts to get ahold of someone and verify the data. Often,managers don’t ask objective questions that can be measured against other applicants. | Partnyr reaches out to previous landlords and asks objective questions that are used to calculate the Tenant Score. Instead of asking questions like “did you have any problems with them?”, we get much more specific and use those answers to derive a report on the applicant. We interview managers for last two landlords OR the last 5 years. |
As you can see – Partnyr is not just reporting the raw data – we’re collecting more data in a lot of these categories AND we’re actually building out scoring so it is easy to compare one applicant to another.
Data, data and more data
Data is most useful when it is together in the same place. Every applicant is asked not only to report their previous occupancy history – but write a review of the property manager, rate the property from 1-5 AND rate the property manager.
This way, if there’s a property that is continually getting low reviews from different applicants, we can let renters know the score and steer them away from a bad experience. Similarly, if there’s a dishonest or hard-to-deal-with landlord, over time that history will catch up with them, resulting in a lower score than the average manager or landlord on the platform. Lastly, the reviews can help other renters decide on the best fit for them. They’ll know what makes the property great to live in or the manager great to rent from.
We hate hearing horror stories of bad tenants – but even more so do we despise bad landlords. If you’re a landlord, you must treat your rental property like a business and that means acting with professionalism and integrity The data we capture, over time, will separate those who manage their properties well and those who do not.
A faster Application Process
Since Partnyr gathers all this data and creates a Partnyr Renter Score™, this means that renters can 1-click apply to properties if their score was created within a 30 day window. It also means, that next time they move or apply to another property – even a couple years down the road, we’ll have previous landlord and occupancy history already on file and we just need to ask them to update their application with only the new data, and then refresh their score by paying an application fee to reorder the underlying data that builds that score.
The end result means – a reusable renter application, a faster application process, more data to accurately screen, and significant cost savings if the applicant is applying to more than one property.
Summary
From all of us here at Partnyr, we hope you like what we’ve built and decide to give our Tenant Data Company a try.