TransUnion SmartMove Background Check
TransUnion SmartMove background check landlords access to the nuanced banking information for use in their selection of applicants. In doing so, this strategic partnership provides landlords with an extensive view into a potential tenant’s creditworthiness and overall risk profile. In the sections below, the access to data from TransUnion’s databases, what the access means for landlords and tenants, and how fast the process usually takes are discussed in detail.
Utilization of TransUnion’s Data
Data Collection: Detailed Credit Data: SmartMove accesses detailed credit data of applicants, including credit scores, credit histories, debt summaries, and payment behaviors. Comprehensive data helps landlords assess an applicant’s ability to pay rent on time.
Criminal Records: With TransUnion, SmartMove looks through national and local criminal databases. This includes arrests for felonies, misdemeanors, sex offenses, as well as other criminal activities, and tries to understand the criminal history of potential renters.
Eviction Records: The transparency and data of eviction are provided on the platform SmartMove for review by landlords. It shows insights into any past evictions, legal disputes related to housing, as well as other related civil court data.
Derived Analytics
SmartMove carries out a set of risk assessment and income score factors derived from TransUnion’s advanced analytical models. The models generate risk levels and tendencies to predict potential rental risks through the use of applicants’ data, giving much insight into an applicant’s future behavior.
Benefits for Landlords
Risk Mitigation: The broad use of data, both credit-related and criminal history, prevents the risk of income loss or property damage by ensuring better tenant selection.
Quick Decision Making: The data provided in a tenant report will assist landlords in creating rapid and well-informed rental decisions without requiring detailed individual background investigations.
Benefits for Tenants
Data Accuracy: Tenants benefit from accurate fairness and transparency in how their information is assessed since their data is based on industry standards and used regulated data.
Data Security: Strong data security measures applied to SmartMove prevent tenants from having to worry about their sensitive information being mishandled.
Typical Process Time and Important Characteristics for Processing
Duration: Most SmartMove checks are completed within 24 hours, though occasionally, they can take longer, taking up to 48 hours for completion.
Factors Influencing Timelines
- Data Complexity. Applicants with widespread records or with a history across different states may take more time to complete their checks.
- Accuracy of Information Supplied. Inaccuracies or insufficient details in the applicant data will prompt additional verification, thus increasing the process time.
- System Delays. With high volumes of work, or upgrades done to the system, slight delays in processing may be witnessed.
TransUnion SmartMove History
| Year | Milestone |
|---|---|
| 2008 | Launch of SmartMove: TransUnion introduces SmartMove, providing a new way for independent landlords to screen tenants efficiently and securely. |
| 2010 | Introduction of ResidentScore: SmartMove develops ResidentScore to provide landlords a more accurate prediction of rental behavior than traditional consumer credit scores. |
| 2012 | Mobile Optimization: SmartMove enhances user experience by optimizing its platform for mobile devices, facilitating easier access for landlords and tenants. |
| 2014 | Expansion of Services: SmartMove expands its services to include income insights, offering landlords an automated estimation of a tenant’s income to further streamline the screening process. |
| 2016 | Integration of New Databases: SmartMove integrates additional criminal databases and improves its eviction records capabilities to provide more comprehensive background checks. |
| 2018 | Launch of QuickCheck: SmartMove launches QuickCheck, a feature that allows landlords to receive a pass or fail recommendation based on set criteria, simplifying decision-making. |
| 2020 | Response to COVID-19: SmartMove introduces features to help landlords navigate tenant screening amid the COVID-19 pandemic, including guidance on handling financial assessments during economic downturns. |
| 2022 | Enhanced Privacy Features: SmartMove updates its privacy features, ensuring tenant data protection aligns with new data protection regulations and best practices. |
Common Errors During SmartMove Background Check
- Inaccurate personal information. The errors may be in the fact that the personal details may be typos of names, Social Security numbers, addresses, or dates of birth among other wrong details during data entry or from the applicant’s side.
- Criminal Records Misattribution. The criminal records are mistakenly attached to a tenant with the same or similar names or due to incomplete data using during the criminal history check.
- Records with Outdated or Expunged Legal Records. Lags in the update of database information or technical errors may reflect expunged or sealed records showing in the background check.
- Duplicate Entries. Repeated debt or criminal records could be in display where several data sources overlap, and inaccurate reporting is done.
- Incorrect Credit Information. The credit report might contain data that is outdated or has erroneous debt listings or incorrect account statuses.
- Errors in Eviction Data. Reports may incorrectly list evictions, due to reporting errors or same names. The reports should also reflect the updated status of the eviction proceedings that were dismissed or resolved.
Percentage of Issues During SmartMove Background Checks
| Type of Error | Estimated Frequency |
|---|---|
| Identity Mistakes | 15% |
| Credit Report Errors | 10% |
| Criminal Record Mistakes | 5% |
| Outdated Information | 20% |
| Duplication of Records | 8% |
| Misattributed Records | 12% |
| Inaccurate Public Records | 10% |
| Eviction History Errors | 7% |
Don’t face tenancy screening struggles with SmartMove or rental application difficulties alone. Our consumer law firm specializes in explaining to tenants and landlords their rights and responsibilities from tenant screening laws, including issues with disputes involving inaccuracies in the screening report. Contact us today for a consultation, and let our experienced attorneys help ensure the methods of screening are fair, accurate, and legally compliant. Protect your rights with the expertise of our legal team—reach out now to secure professional guidance.
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