SafeRent score
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We were just turned down on out rental application. From what I was told, it had to do with our SafeRent score. First time I ever heard about SafeRent. Is SafeRent a CRA? Can I dispute their score?
SafeRent is not a CRA
CoreLogic SafeRent is not a credit bureau, but because it collect information on consumers and so have to comply with the FCRA.
SafeRent is the largest tenant screening company in the US. At writing, it provides tenant screening services to more than 305 of the large property managers in the US.
CoreLogic SafeRent developed a proprietary score that is very different than your usual FICO score. The SafeRent score predicts the probability that the lease will be beneficial to the landlord, and unlike FICO it considers your annual income, requested rent amount and rental history.
The SafeRent score is a three digit number, and according to CoreLogic it is much lower than one’s FICO score. Normally, landlord pre-load the system with their minimum acceptable SafeRent score, and the system comes up with three recommendations: “Accept“, “Accept with Extra Deposit“, or “Decline.
For example, a SafeRent score of 900/1000 means that 900 out of 1000 renters with similar backgrounds were responsible tenants.
You can find more information about SafeRent score here.
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