Credit Requirements

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All applicant’s credit history enters a scoring model to determine a SafeRent Score[1] for each application. The SafeRent Score is determined from an analysis of information found in each applicant’s consumer credit report, application, and previous rental histories (if applicable). Consumer reports may include but are not limited to payment history, bankruptcies, number and type of accounts, collection activity, outstanding debt, and credit inquiries. In addition, the scoring process includes income-to-rent ratio, eviction records, and subprime credit records.

An applicant’s security deposit is determined by the SafeRent Score of the applicant and may result in an increased security deposit for approval.

Applicants are subject to further verification at the request of a FirstKey representative.

[1] FirstKey Homes, LLC uses CoreLogic Rental Property Solutions (CLRPS) as their screening provider. Rental scoring allows landlords and property management companies to manage financial risk involved in leasing a home. The rental scoring process provides an objective and consistent review of relevant applicant information for real-time approvals or denials of applications. CLRPS uses a rental score resulting from a mathematical analysis of information found in the Applicant’s consumer credit report. The score is derived from a number of factors including payment history, number and type of accounts, collection activity, outstanding debt, inquiries, income-to-rent ratio, previous eviction records, and subprime credit records otherwise known as SafeRent Score.

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