Rentec Direct works with StarPoint to provide credit screening services to effectively screen prospective tenants. Beginning in July 2026, StarPoint will utilize the VantageScore for credit scores on tenant screening credit reports available through Rentec Direct as an enhanced screening option for landlords and property managers.
Tenant screening is key for landlords and property managers who seek to find a good tenant. Part of the screening process is a credit check, which can serve to demonstrate an applicant’s financial responsibility.
Rentec Direct clients have access to StarPoint’s TransUnion tenant screening credit report, which includes a credit score and other valuable information like payment patterns and history, public records search, collection accounts, SSN validation, and residence/employment verification. Previously, this report included a FICO credit score, and will soon be replaced with a VantageScore to assess credit and financial responsibility.
A VantageScore is considered to be more reliable for tenant screening purposes, giving landlords and property managers more data to make an informed decision.
Important Highlights:
- Rentec Direct offers the StarPoint Tenant Credit Report scoring model through TransUnion, which is transitioning from the FICO 10 model to the VantageScore 3.0 model to calculate a credit score.
- Both options are trusted through many prominent financial institutions and provide a helpful and well-calculated credit score.
- VantageScore can generate a score with less credit history. FICO scores require at least six months of credit history before a score can be generated. This means landlords and property managers won’t be limited when screening applicants who have newer credit histories.
- VantageScore is often used by credit card portals and popular credit monitoring sites. Using VantageScores for your tenant screening ensures that tenants are not surprised by the credit score results when applying for your property.
Understanding VantageScore vs FICO Score
While they vary in their makeup, both FICO and VantageScore are both widely used by financial institutions and other entities. Both models consider similar factors when calculating a credit score, including payment history, credit utilization, length of credit history, types of credit, and recent credit inquiries. However, they weigh these factors differently.
Understanding VantageScore
According to Equifax, VantageScore emphasizes payment history and depth of credit utilization. Payment history (40%), Depth of credit (21%) (this is the ages and types of credit the holder has; varied accounts are better), credit utilization (20%), balances (11%), recent credit, and available credit (3%).
Understanding FICO Score
According to Equifax, although FICO has different scoring models, it uses percentage weights to help determine a score. FICO credit scores are largely made up of a person’s payment history (35%), amounts owed (30%), length of credit history (15%), new credit accounts (10%), and types of credit used (10%). FICO gives the most weight to payment history and credit utilization.
Why Renters May Prefer a VantageScore
Many credit score monitoring options offered by credit card portals display a VantageScore. Popular credit monitoring sites such as: TransUnion, Credit Karma, Nerdwallet, and more use VantageScore 3.0 to help consumers track their credit.
Since VantageScore can differ from a FICO score, this can cause confusion and frustration for renters applying for credit screening when they see numbers that do not align with their monitoring services. Switching to VantageScore for tenant screening can still provide landlords and property managers with a blueprint for a potential tenant’s financial responsibility, while mitigating surprises for renters.
Benefits to Using a VantageScore for Tenant Screening
While VantageScore considers payment history extremely influential, it places high importance on age and the type of credit. VantageScore can generate a score with less credit history. FICO scores require at least six months of credit history before a score can be generated. The credit account (or “tradeline”) must be at least six months old, and there must be activity on the tradeline during the previous six months. Unfortunately for tenants who do not have any account opened for longer than 6 months, the results would previously show “unable to score.”
This can be frustrating for applicants, but can prove disadvantageous for landlords and property managers who did not receive what can feel like the most valuable part of the credit report. VantageScore can allow more applicants to receive a score, especially new renters and those with thinner credit histories. This allows landlords and managers to better accurately assess the qualifications of those younger applicants, which offers a win-win for landlords and tenants alike.
Final Thoughts
Rentec Direct clients can now feel even more confident in the credit reports they receive during tenant screening. The VantageScore update will enable landlords and property managers to accurately assess financial responsibility for more applicants and will ensure you have all the information you need to find the right tenant for every property in your portfolio.
Have Questions?
Connect with your Rentec Direct Success Team by calling, emailing, or chatting with live support. Just click on the Live Expert Help link to email or chat with live support, email success@rentecdirect.com, or call 800-881-5139. Our team is always happy to help answer any questions you may have.