CULFIDANT 6-factor-18-Score System explained
How does CARMAP service decide which applicant is A+ tenant? Simply put, it is via a so-called “Culfiant 6-factor-18-Score” system that has been developed by Culfidant over the years based on the methodology recommended by Daniel Kahneman , the Nobel prize winner. You may find more related via link here.
Without getting into too much technical details, here are a brief summary about the 6-factors and how it works in principle.
- factor 01 – how long he/she has stayed in the previous home (0-3).
- the longer the better
- it shows how stable the prospect is likely.
- factor 02 – how long he/she has been working on the current job (0-3).
- the longer the better
- full-time is more preferrable than part-time
- factor 03 – credit score (0-3)
- the higher the better.
- it is a factor, but only one of six.
- factor 04 – payment history (0-3)
- one resource is from the current/previous landlords.
- the other is from the credit report.
- factor 05 – income/rental ratio
- the higher the better.
- additional caution is needed if it is too low.
- factor 06 – close your eyes (0-3)
- this is the place for gut feeling.
- it also taken the landlord’s level of comfort into consideration.
In the carmap process, once the prospects submit the application form, the landlord can fill in the 6-factor evaluation form, and once done, the score of this applicant shall be spilled out automatically. The decision is a no-brainer:
- if the score is 14 or higher. It is A+
- If the score is 12 to 14, it is A or B
- if the score is less than 12, deny the application.
You may make the final decision based on the score.
For more discussion on the 6-factor-18-score system, you may check out this video show via the link here.