TransUnion has announced that they are creating a new database that will assist apartment managers and landlords with their screening process. The credit reporting agency has designed a system that will track rental payments letting their prospective landlord know who they are getting in advance. The new system is called “RentBridge”.
Renters who have always paid on time will finally see the benefits – as will their new landlords. This will make it easier for them to rent, as rental companies will have a clear idea of what their renters’ payment history is. Renters who have been late on payments, however, will now have a harder time of procuring a place to stay as they will now be seen as a liability.
The facts and figures will also provide TransUnion more information with which to provide a more accurate credit history. The new database will give landlords a huge advantage over the screening process. Renters will now see the benefits, or reap the consequences of their past payment histories. ■
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