NO INSPECTION TENANT SCREENING WITH THE
You can now obtain an “ABC Grade Report” that replaces a standard credit report without having a site inspection. The only difference is that we can’t reveal specific numbers from the credit report without the inspection. What you will get is an A, B, C, D or F grade for each application you submit to help you make the right decision. Also, you will get the ABC Grade Report for free with every full credit report.
Tenant Qualifier: This grade-based credit report helps you make uniform decisions. Protect yourself from making bad decisions. AOA recommends basing applicant acceptance on credit behavior, criminal behavior (where permitted), and residential behavior. As an AOA member, all you have to do is complete the required paperwork to start receiving this report.
Customize Your Grade Criteria Yourself!
Did you know that you can actually adjust the preset criteria? This is a great feature unique to AOAUSA that puts you in total control. Don’t like that the cutoff for an “A” credit rating is a FICO Score of 700? No problem! You can adjust it down to 680 if you like. There are many criteria, and you can adjust them all as you see fit.
The Preset Grade Definitions for the “ABC” Grade Report
The applicant’s credit information must meet all criteria for a particular grade. Example: All criteria may be perfect for an “A” rating, except that the credit history may be less than 36 months old, so the rating would fall to a lower level. If there is no credit history it will be an automatic “F”. Criteria for each grade is subject to change, so ask the operator for any recent changes.
Grade Definitions for AOA’s “ABC” Grade Report
Criteria for Grade A:
- Credit Score Between 700 and Perfect
- Must Have Credit Report
- Credit History Must Be at Least 36 Months Old
- No 30 Day Late Accounts in the Last 12 Months
- No 60 Day Late Accounts in the Last 12 Months
- No 90 Day Late Accounts in the Last 12 Months
- No Collection Accounts in the Last 24 Months
- No Bankruptcies in the Last 48 Months
- No Legal Items in the Last 24 Months
- No Tax Liens in the Last 24 Months
- Must Have at Least 90% Positive Accounts
Criteria for Grade B:
- Credit Score Between 600 and 700
- Must Have Credit Report
- Credit History Must Be at Least 24 Months Old
- No Collection Accounts in the Last 12 Months
- No Bankruptcies in the Last 18 Month
- No Legal Items in the Last 18 Months
- No Tax Liens in the Last 24 Months
- Must Have at Least 80% Positive Accounts
Criteria for Grade C:
- Credit Score Between 500 and 600
- Must Have Credit Report
- Credit History Must Be at Least 12 Months Old
- No Collection Accounts in the Last 6 Months
- No Bankruptcies in the Last 12 Months
- No Legal Items in the Last 12 Months
- No Tax Liens in the Last 12 Months
- Must Have at Least 70% Positive Accounts
Criteria for Grade D:
- Credit Score Between 400 and 500
- Must Have Credit Report
- Must Have at Least 60% Positive Accounts
Criteria for Grade F:
- Credit Score May Be Below 400
- Has Below 60% Positive Accounts
- Might Not Have Established Credit or Fico Score
- Might not have any payment history to report