Lancaster, CA – Contemporary Information Corp. (CIC) aims for property owners, property management companies, apartment associations, and public housing authorities to have the best resident screening experience. To enable property owners and managers to make the best decisions about rental applicants for themselves and their communities, CIC offers in-depth information about renters. As part of their commitment to disseminating information, the company is proud to release their credit, criminal and eviction data trends from 2019’s second quarter, running from April through to June.
For the second quarter of 2019 (April through June) CIC revealed that for the most part, tenants’ FICO scores have trended upwards, as they previously predicted. In addition, the quarterly data analysis highlights the percentage of rental applicants that may have criminal and eviction records on their resident background checks, as well as their average FICO credit score.
The recently released report, when compared to previously data trend reports on resident credit checks and more from the first quarter of the year (January through March), showed that the average FICO has risen, however, this may be attributed in part to tenants’ having finished paying off their winter holiday expenses on their credit cards.
A spokesperson for the company, Ryan Green, while presenting the report for the second quarter of the year said, “The first quarter of the year had a dip in average credit scores. Of all groupings of credit scores, the largest were still those with a good to excellent score, but that was only around 36%. This quarter, those with a good to excellent credit rating has jumped. It’s not the only group that had some significant changes, but as scores fluctuate through the year, the rise in numbers is a good sign.”
Additionally, the report proposes some of the common reasons why renters’ FICO scores are increasing. The second-quarter report suggests that the renters’ FICO score increase may be due to unpaid credit card debt, paying fees late, accounts sent to collection agencies, credit history that is too short, credit use ratio, or the fact that scores tend to go down early in the year after large purchases have been made during the holidays.
This new release aims to help property managers and owners verify which applicants pay their bills on time, develop a seamless review process built in their property management software and also provide property owners and managers with a great quality, versatile rental screening tool, guaranteed to increase resident retention rates while also protecting rental properties from damages and danger.
Interested property owners and managers seeking to make the best decisions for their businesses can reach out to Contemporary Information Corp. (CIC) at 42913 Capital Drive, Unit 101, Lancaster, CA 93535 or call them at 800-288-4757. For more information, send an email to them at email@example.com or visit their website.
Company Name: Contemporary Information Corp. (CIC)
Contact Person: Ryan Green
Email: Send Email
Address:42913 Capital Drive, Unit 101
Country: United States