Low Income Housing Advocates Applaud

Jan. 7, 2010 - PRLog -- Paying multiple application fees before qualifying for housing is a significant hardship for low income and other hard to place individuals.  Low income housing advocates have long sought a portable tenant screening product to lessen the burden on this vulnerable population.

Under the "traditional" tenant screening model, applicants meet with prospective landlords, complete a rental application and pay an application (screening) fee.  The landlord orders a tenant screening report from a consumer reporting agency (CRA).  The CRA returns the tenant screening report to the landlord, who then decides to accept (the applicant), accept conditionally (e.g. with an increased deposit or cosigner) or deny tenancy.  This process is hard on low-income individuals who may spend hundreds of dollars on application fees, paying multiple times for the same report, before finding a landlord who will accept them.  Once they do, they may lack the funds needed for fees, deposits and other move-in costs.  Additionally, the applicant has no legal right to a copy of the report unless the landlord takes adverse action.

The effort to address multiple screening fees and portability dates back to the middle 90's.  More recently, in November 2008, the Spokane Low-Income Housing Consortium (SLIHC) assembled a working group of advocates and CRA's to explore the problem and consider solutions.  There were five screening companies represented.  
"We wanted to eliminate the practice of tenants having to pay for screening report after screening report and then not having money for security deposits or first months rent," said Cindy Algeo, SLIHC's executive director.  "It was becoming a barrier to obtaining housing."
After numerous conversations, one company, Seattle-based Moco, Incorporated, took the initiative to create the industry’s first direct-to-consumer (portable) tenant screening report.  Moco, Incorporated Vice President Paul Prudente said the report, which puts prospective tenants in control of their own background checks, is the first of its kind.  "It turns the traditional tenant screening model on its head," Prudente said.  The new product is marketed under the name MyScreeningReport.com™ and is available at www.MyScreeningReport.com.  

Under the direct-to-consumer (DTC) screening model, the applicant orders, receives, reviews, disputes (if necessary) and finally, releases the report to the prospective landlord - in that order.  Under this model, the applicant:
·   Pays a single screening fee. (payable by credit and/or gift card)
·   Disputes errors (if any) before the report is released (by them) to the landlord.
·   Reviews the content of their report with prospective landlords to determine whether they qualify under the landlord's rental criteria before paying application fees, deposits, etc.
·   Has the information they need to better manage their affairs.
Note that consumer initiated credit reports do not create an inquiry on the credit report and, therefore, do not impact the applicant's credit score.

The new product is a win for private landlords as well, many of who lack access to quality tenant screening products due to the cost associated with certifying landlords under the traditional model.  Landlord certification is not required under the DTC model.  Further, the DTC model expedites the leasing process by giving landlords the information they need when first meeting with prospective tenants.  Screening fees are collected directly from applicants - eliminating the hassle associated with collecting and managing these funds.

For more information or details about this consumer initiated tenant screening product, email info@MyScreeningReport.com or visit www.MyScreeningReport.com.

# # #

MyScreeningReport.com™ is a service of Moco, Inc. Moco was founded in 1989 to provide owners and managers of apartment communities with custom residential screening services. We are headquartered in Seattle, Washington.