In the world of real estate and property management, the screening process can be a daunting task. It's crucial to ensure that your prospective renters are reliable and trustworthy, but the process often involves a lot of paperwork, time, and effort. That's where screening services like SmartMove come into the picture. But is SmartMove worth it? This post aims to help you answer that question by exploring the pros and cons of this popular platform.
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In this post, you will learn about what SmartMove is, its evolution over the years, it's pricing model, and the various pros and cons of using the service. By the end of this read, you'll be in a better position to decide whether SmartMove is the right fit for your tenant screening needs.
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What is SmartMove?
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SmartMove is a tenant screening service offered by TransUnion, a leading global credit report agency. It is designed to provide landlords with comprehensive and accurate information about prospective tenants, including their credit report, criminal background, and eviction history. The goal is to help landlords make informed decisions when screening potential tenants, reducing the risk of future problems.
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TransUnion SmartMove over the years
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SmartMove has been around for quite some time and has built a solid reputation in the industry. Over the years, it has continuously improved its service, introducing features that make the screening process more efficient and user-friendly. This includes an online interface that allows landlords to request tenant background checks in just a few clicks.
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SmartMove Pricing
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SmartMove offers a flexible pricing model, with three different packages to choose from. The Basic package includes a credit report and a national criminal search. The Plus package adds an eviction report, and the Premium package includes all of these plus a full credit report with a credit score. The pricing ranges from $25 for the Basic package to $40 for the Premium package.
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Cons of SmartMove
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While SmartMove offers a lot of benefits, it's not without its downsides. Here are a few to consider:
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• Incomplete Application - The biggest drawback of SmartMove is that it doesn't collect all of the necessary information you might need to make a decision. And an incomplete application can result in an incomplete screening. A separate questionnaire or interview will most likely be necessary for landlords as important information like rental history is left off the SmartMove application.
• Application Process Not Fully Automated - Another downside of SmartMove is that the application process is not fully automated. For a service in the digital age, this is a bit of a letdown. While you can initiate the screening process online by sending the applicant an email, your prospective tenant can not just click a link to begin and will still need to wait for your action to initiate the process, which can slow down the timeline.
• No Criminal Data for Some States - While SmartMove provides a national criminal search, it doesn't offer criminal data for some states (Delaware, Hawaii, Kentucky, Massachusetts, New Jersey, South Dakota, Wyoming and Cook County, Illinois). This can be a significant drawback if you're looking to screen tenants in those states.
• Requires Additional Income Verification - SmartMove’s Income Insights tool uses a proprietary model to analyze an applicant’s self-reported income by using data from their credit reports. However this report does not verify income, it only helps you determine whether additional proof of income should be collected.
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Pros of SmartMove
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But let's not forget the good stuff! SmartMove has some impressive pros:
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• Reputable Company - Firstly, SmartMove is backed by TransUnion, a reputable company with a long-standing reputation in the credit report industry. You can trust the accuracy and reliability of the information provided.
• Full Credit Report With Score - SmartMove provides a full credit report with a credit score, which is a crucial indicator of a tenant's financial responsibility. This gives you a comprehensive insight into your prospective tenant's financial habits.
• Tenants Can Pay - Another great feature of SmartMove is that it allows tenants to pay for their own screening. This can save you money and time, and it also gives the prospective tenant a sense of ownership in the process.
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Final Verdict
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So, is SmartMove worth it? It depends on what you're looking for in a tenant screening platform. If you value a comprehensive credit report, a reputable company, and the convenience of having tenants pay for their own screening, then SmartMove could be a great fit.
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However, if you require a fully online application process, complete applications, and criminal data for all states, you might want to consider other options.
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Benefits of Using Clara to Screen Renters Instead
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One such alternative to consider is Clara. Clara offers a comprehensive, fully digital rental application and screening process, which includes identity verification, a full credit report, criminal background check, eviction history, and income verification. Most importantly, Clara makes it incredibly easy, providing a seamless and secure user experience for renters that provides more consumer transparency and control.
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Next Steps
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Now that you're equipped with the pros and cons of SmartMove, it's time to make an informed decision. Evaluate your needs, consider the pros and cons, and choose a tenant screening service that best fits your requirements. Remember, the goal is to find reliable, trustworthy renters, and the right screening service can make that process a whole lot easier! 😊
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