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The ResidentIQ score is a statistically backed algorithm that was developed by analyzing the performance of renters throughout the history of a lease and correlating that with data points in their financial history.  The score considers a variety of factors, including the individual’s percent of negative tradelines to positive tradelines, bankruptcies, income-to-rent ratio, evictions, collections and whether they are paid, and banking history.   


Want more details? 

  • We disregard medical and student debt in the score.
  • RIQ Score is lowered with paid or unpaid collections, eviction records, bankruptcy, etc.
  • Scores range between 1-100 points.
  • You can set what score ranges you would like to see recommended as Approved, Conditional-High, Conditional-Low, or Decline based on your screening criteria.  Each property can be adjusted independently to accommodate different classifications/demographics.   


Resident IQ Score Examples


The RIQ Scores are calculated from 1 - 100 points. The higher the score the fewer risk indicators were found on the report.   The scores below are common settings in the industry. However, recommended decision thresholds can be customized (by simply dragging the settings with your curser) to meet the requirements of each property.


Results

  • Approved: Meets your criteria for approval
  • Conditional-High: Has a higher RIQ Score, but doesn't meet your "Approval" criteria
    • Example: May need a larger security deposit to be approved
  • Conditional-Low: They have a lower RIQ Score, but not so low as to meet your “Decline” criteria. 
    • Example: May need an extra security deposit and/or a guarantor to be approved
  • Decline: Doesn’t meet your criteria for approval. 


Property Class A RIQ Score Settings


Property Class B RIQ Score Settings


Property Class C RIQ Score Settings


Property Class Affordable RIQ Score Settings


Property Class Affordable No Income Requirement RIQ Score Settings


Property Class Student RIQ Score Settings



If you would like specific instructions to show your leasing agents on the report when an applicant falls into your Conditional approval thresholds, you can set that text here: