TINZ Launches Online Tenancy Risk Score
Tenancy Information New Zealand Launches Tenancy Risk Score, Enabling Landlords & Property Managers to Instantly Check & Screen Tenants Online
For the first time in New Zealand, property managers and landlords can access a score assessing a prospective tenant’s potential risk. Tenancy Information New Zealand (TINZ) has launched a Tenancy Risk Score, which ranks individuals and companies from 0 to 1,000.
A good score is 600-1,000 and a poor score is 500 or below. The average score across the database is 630.
The Tenancy Risk Score pulls information from sources such as credit reporting agency illion (formerly Dun & Bradstreet), Ministry of Justice Tenancy Tribunal orders, debt collectors, Land Transport New Zealand driver’s licence information, home ownership records and the Personal Property & Securities Register. It creates the score based on an individual or company’s history and behaviour, giving landlords and property managers a quick and easily understandable overview of the potential risk of letting a property.
TINZ Business Development Manager Ian Barker said demand in the marketplace for a risk assessment such as the Tenancy Risk Score had led to the new product development.
“We’re constantly having discussions with property managers and landlords who use our tenancy checking service, and they’ve been telling us they wanted a way to rank individuals and companies, and a way they can quickly understand the potential for risk when letting a property,” Mr Barker said.
“Technology is always changing the game in business and that’s another aspect of why we’ve launched the Tenancy Risk Score. Ratings are everywhere now – just look at business such as Uber and Airbnb. Ratings are helping to increase accountability on both sides of the fence, both user and provider. Restaurants are rated by patrons, buyers and sellers rate each other on Trademe, and tradies are scrutinised on websites such as No Cowboys. It’s only fair that, for example, businesses providing a good service, or people who pay on time, should take the credit or be accountable.
“Technological advances also mean we’ve been able to build a platform for the Tenancy Risk Score that’s online, user-friendly and is done in real time.”
Landlords and property managers can access the Tenancy Risk Score at www.TINZ.nz.