Reporting and collecting rent payment history

• US 20030093289A1
• Filed: 07/30/2002
• Published: 05/15/2003
• Est. Priority Date: 07/31/2001
• Status: Abandoned Application

• Current Assignee: Transunion Rental Screening Solutions, Inc. (TransUnion Corporation)
• Original Assignee: Transunion Rental Screening Solutions, Inc. (TransUnion Corporation)
• Inventors: Britti, Michael A., Thornley, Robert D., Lermsider, Andrew
• Application Number:
  US10/209,094
• Publication Number:
  US 20030093289A1
• Time in Patent Office: Days
• US Class Current: 705/307
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A rent payment history system collects data associated with rent payments for a plurality of renters, leases, and lease events. Property managers report out lease events to a central repository in a systematic manner. The content of the data is also systematically defined to accommodate the unique aspects of leasing arrangements (e.g., late payments, pet fees, deposits, damage penalties, skips, etc.). The data is stored in the central repository for access by a plurality of property managers, to assist in a large variety of leasing and credit decisions. Credit bureaus and other entities may access the lease history data to make credit determinations and marketing decisions.

Claims

1. A system for collecting one or more lease histories, each lease history relating to a lease of a property and a lessee of the property, the system comprising:

a lease commencement module receiving from a property manager lease application data relating to the first lease and the first lessee associated with a first property;

a periodic lease event module receiving from the property manager periodic data relating to one or more periodic payments of rent submitted during the term of the first lease by the first lessee;

a lease termination module receiving from the property manager lease termination data describing an end-of-lease closing circumstance; and

a collection module storing the lease application data, the periodic data, and the lease termination data in a central repository as a first lease history.

2. The system of claim 1 further comprising:

a collections reporting module receiving data relating to collections activity associated with the first lease and the first lessee; and

a storing module storing the data relating to the collections activity in a central repository as a portion of the first lease history.

3. The system of claim 1 wherein the lease application data, the periodic data, and the lease termination data are electronically communicated from one or more property management software applications operated by the one or more property managers.

4. The system of claim 1 wherein the collection module stores a second lease history relating to a second lease and the first lessee associated with a second property in the central repository.

5. The system of claim 4 wherein the first and second lease histories constitute a consumer lease record associated with the first lessee.

6. The system of claim 4 wherein the lease application data, the periodic data, and the lease termination data associated with the first lease history is supplied by a different property manager than the lease application data, the periodic data, and the lease termination data associated with the second lease history.

7. The system of claim 1 wherein the collection module stores a second lease history relating to a second lease and a second lessee associated with a second property in the central repository.

8. The system of claim 7 wherein the lease application data, the periodic data, and the lease termination data associated with the first lease history is supplied by a different property manager than the lease application data, the periodic data, and the lease termination data associated with the second lease history.

9. The system of claim 1 wherein the property lease application data relates to a lease commencement event under the first lease associated with the first lessee.

10. The system of claim 1 wherein the periodic payment data relates to a periodic payment event under the first lease associated with the first lessee.

11. The system of claim 1 wherein the lease termination data relates to a lease termination event under the first lease associated with the first lessee.

12. The system of claim 1 further comprising an inference module inferring on-time payment of rent when periodic payment data is not reported in a cycle of a periodic schedule.

13. The system of claim 1 wherein the end-of-lease closing circumstance relates to a failure of the first lessee to pay a utility bill.

14. The system of claim 1 wherein the end-of-lease closing circumstance relates to a skip by the first lessee.

15. The system of claim 1 wherein the end-of-lease closing circumstance relates to an eviction of the first lessee.

16. The system of claim 1 wherein the end-of-lease closing circumstance relates to a paid-in-full lease termination associated with the first lessee.

17. The system of claim 1 wherein the lease termination data indicates a total amount due to the property manager at lease termination.

18. The system of claim 17 wherein the lease termination data details a plurality of monetary amounts contributing to the total amount due to the property manager at lease termination.

19. The system of claim 1 wherein the lease termination data indicates a total amount due to the lessee at lease termination.

20. The system of claim 19 wherein the lease termination data details a plurality of monetary amounts contributing to the total amount due to the lessee at lease termination.

21. A method of collecting one or more lease histories, each lease history relating to a lease of a property and a lessee of the property, the method comprising:

receiving from a property manager lease application data relating to the first lease and the first lessee associated with a first property;

receiving from the property manager periodic data relating to one or more periodic payments of rent submitted during the term of the first lease by the first lessee;

receiving from the property manager lease termination data an describing end-of-lease closing circumstance; and

storing the lease application data, the periodic data, and the lease termination data in a central repository as a first lease history.

22. The method of claim 21 further comprising:

receiving data relating to collections activity associated with the first lease and the first lessee; and

storing the data relating to the collections activity in a central repository as a portion of the first lease history.

23. The method of claim 21 further comprising:

electronically communicated the lease application data, the periodic data, and the lease termination data from one or more property management software applications operated by the one or more property managers.

24. The method of claim 21 further comprising:

storing a second lease history relating to a second lease and the first lessee associated with a second property in the central repository.

25. The method of claim 24 wherein the first and second lease histories constitute a consumer lease record associated with the first lessee.

26. The method of claim 24 further comprising:

receiving lease application data, periodic data, and lease termination data associated with the second lease history from a different property manager than the lease application data, the periodic data, and the lease termination data associated with the first lease history.

27. The method of claim 21 further comprising:

storing a second lease history relating to a second lease and a second lessee associated with a second property in the central repository.

28. The method of claim 27 further comprising:

receiving lease application data, periodic data, and lease termination data associated with the second lease history from a different property manager than the lease application data, the periodic data, and the lease termination data associated with the first lease history.

29. The method of claim 21 wherein the property lease application data relates to a lease commencement event under the first lease associated with the first lessee.

30. The method of claim 21 wherein the periodic payment data relates to a periodic payment event under the first lease associated with the first lessee.

31. The method of claim 21 wherein the lease termination data relates to a lease termination event under the first lease associated with the first lessee.

32. The method of claim 21 further comprising:

inferring on-time payment of rent when periodic payment data is not reported in a cycle of a periodic schedule.

33. The method of claim 21 wherein the end-of-lease closing circumstance relates to a failure of the first lessee to pay a utility bill.

34. The method of claim 21 wherein the end-of-lease closing circumstance relates to a skip by the first lessee.

35. The method of claim 21 wherein the end-of-lease closing circumstance relates to an eviction of the first lessee.

36. The method of claim 21 wherein the end-of-lease closing circumstance relates to a paid-in-full lease termination associated with the first lessee.

37. The method of claim 21 wherein the lease termination data indicates a total amount due to the property manager at lease termination.

38. The method of claim 37 wherein the lease termination data details a plurality of monetary amounts contributing to the total amount due to the property manager at lease termination.

39. The method of claim 21 wherein the lease termination data indicates a total amount due to the lessee at lease termination.

40. The method of claim 39 wherein the lease termination data details a plurality of monetary amounts contributing to the total amount due to the lessee at lease termination.

56. The computer program product of claim 21 wherein the end-of-lease closing circumstance relates to a paid-in-full lease termination associated with the first lessee.

41. A computer program product encoding a computer program for executing on a computer system a computer process for collecting one or more lease histories, each lease history relating to a lease of a property and a lessee of the property, the computer program product comprising:

receiving from a property manager lease application data relating to the first lease and the first lessee associated with a first property;

receiving from the property manager periodic data relating to one or more periodic payments of rent submitted during the term of the first lease by the first lessee;

receiving from the property manager lease termination data describing an end-of-lease closing circumstance; and

storing the lease application data, the periodic data, and the lease termination data in a central repository as a first lease history.

42. The computer program product of claim 41 wherein the computer process further comprises:

receiving data relating to collections activity associated with the first lease and the first lessee; and

storing the data relating to the collections activity in a central repository as a portion of the first lease history.

43. The computer program product of claim 41 wherein the computer process further comprises:

electronically communicated the lease application data, the periodic data, and the lease termination data from one or more property management software applications operated by the one or more property managers.

44. The computer program product of claim 41 wherein the computer process further comprises:

storing a second lease history relating to a second lease and the first lessee associated with a second property in the central repository.

45. The computer program product of claim 44 wherein the first and second lease histories constitute a consumer lease record associated with the first lessee.

46. The computer program product of claim 44 further comprising:

receiving lease application data, periodic data, and lease termination data associated with the second lease history from a different property manager than the lease application data, the periodic data, and the lease termination data associated with the first lease history.

47. The computer program product of claim 41 wherein the computer process further comprises:

storing a second lease history relating to a second lease and a second lessee associated with a second property in the central repository.

48. The computer program product of claim 47 wherein the computer process further comprises:

receiving lease application data, periodic data, and lease termination data associated with the second lease history from a different property manager than the lease application data, the periodic data, and the lease termination data associated with the first lease history.

49. The computer program product of claim 41 wherein the property lease application data relates to a lease commencement event under the first lease associated with the first lessee.

50. The computer program product of claim 41 wherein the periodic payment data relates to a periodic payment event under the first lease associated with the first lessee.

51. The computer program product of claim 41 wherein the lease termination data relates to a lease termination event under the first lease associated with the first lessee.

52. The computer program product of claim 41 wherein the computer process further comprises:

inferring on-time payment of rent when periodic payment data is not reported in a cycle of a periodic schedule.

53. The computer program product of claim 41 wherein the end-of-lease closing circumstance relates to a failure of the first lessee to pay a utility bill.

54. The computer program product of claim 41 wherein the end-of-lease closing circumstance relates to a skip by the first lessee.

55. The computer program product of claim 41 wherein the end-of-lease closing circumstance relates to an eviction of the first lessee.

57. The computer program product of claim 41 wherein the lease termination data indicates a total amount due to the property manager at lease termination.

58. The computer program product of claim 57 wherein the lease termination data details a plurality of monetary amounts contributing to the total amount due to the property manager at lease termination.

59. The computer program product of claim 41 wherein the lease termination data indicates a total amount due to the lessee at lease termination.

60. The computer program product of claim 59 wherein the lease termination data details a plurality of monetary amounts contributing to the total amount due to the lessee at lease termination.