Access to overseas credit data benefits ScreeningWorks Pro clients and applicants
Yardi® now offers access to international credit reports from Nova Credit within ScreeningWorks® Pro, a comprehensive applicant screening solution that is part of the Yardi® Multifamily Suite.
To address access to credit data for those moving internationally, Nova Credit has developed technology that enables consumers to transport their credit history from select countries around the world.
Access to international credit reports is not only beneficial for property managers but can also help applicants who have recently moved to the U.S. Benefits for managers include the ability to manage risk and more accurately assess prospective residents. Applicants receive an accurate screening process that reflects their credit history.
Additionally, access to international credit reports can reduce the need for high conditional security deposits, which can be prohibitive for prospective renters. For applicants with strong credit in another country, security deposits could be kept at normal rates when Nova Credit data is included in the screening process.
"We are delighted to collaborate with Yardi and scale our offering to the multifamily industry with credit reports from around the world," said Laura Kreitler, head of real estate partnerships at Nova Credit. "Lack of a domestic credit history often results in immigrant applicants being unjustifiably rejected. Nova Credit's integration with Yardi lets U.S. property managers and landlords acquire international tenants more seamlessly through accessing foreign credit data. This allows property managers to reduce tenant default risk and operational costs—while increasing occupancy rates and treating the millions of U.S. immigrants more equally."
"Yardi is continually seeking to enhance ScreeningWorks Pro, part of our single connected solution for multifamily managers, to meet the evolving needs of our clients. We're thrilled to include seamless access to worldwide credit data through Nova Credit, the market leader in cross-border credit reporting, and provide a competitive advantage to property managers and their international applicants," said Patrick Hennessey, vice president of resident screening for Yardi.
Learn more about ScreeningWorks Pro and Yardi's single connected solution for multifamily real estate management.