A. Click on the “How Tenants & Consumers Benefit” button to the left.

A. The RIT national payment and behavior repository will be a database of industry specific histories typically from companies that do not report to the credit bureaus such as landlords, self-storage operators, utilities, telecommunication companies etc. Though very different and much smaller, RIT is similar in concept to other data providers, bureaus and repositories. The similarities may include: seven year history, national coverage and delivery of reports in seconds; however, the differences between these other companies and RIT are substantial, for example:  

• RIT is Pro Consumer
• All Inquiries will be Tracked
• RIT will Protect Client and Consumer Privacy
• RIT will Directly Benefit Data Contributors and Their Industries
• RIT will Not Sell or Transfer Ownership of Client Lists
• RIT will Track Both Industry Specific Payments and Behavior Histories  
• In General, RIT Reports will Contain Information Not Found On Credit Reports
• RIT will Provide Substantial Price Discounts Down to Free or Near Free and Many Other Exceptional Benefits to Data Contributors Without Any of The Negatives Consequences Associated With Other Companies

Q. How will the RIT repository help my company?

A. Prospective accounts/customers are often screened to determine the likelihood of timely payments and their past industry specific behavior. The most common screening tool is the consumer credit report; unfortunately, credit reports do not contain all payment histories and seldom if ever contain past behavior information on consumers or businesses. Intended as an industry specific companion to all screening products, the RIT report is designed to contain the applicant’s history pertaining to your exact product or service and provide faster approvals, which mean less time for prospects to investigate competitors’ products. The ability to identify applicants who will be excellent clients despite having less than excellent credit, along with quicker approvals, will result in better customers and more of them.   Finally, by reporting history to RIT instead of more exploitative repositories you are proving to clients that you care about them and their privacy.

Q. How will the RIT repository work?

A. Upon completion of a data contributor agreement, RIT will coordinate with your CRM, enterprise, management or finance software provider to develop an interface, unless the interface has already been developed.  This interface will enable your company to automatically contribute data directly into the RIT repository and receive RIT products free or at a discounted price.  RIT information can be included within other data products or as a stand-alone report. Only objective and verifiable information entered into management software may be contributed.

Q. Will my client list be sold?

A. RIT will never sell client lists.  Because RIT respects the privacy of its contributors and their customers it takes every effort to ensure that valuable client lists never fall into the wrong hands. Therefore, under no circumstance will RIT sell or give client lists or any other information without the contributor’s express written permission. RIT is in the business of protecting and helping contributors lower risk, become more efficient and profitable, while protecting their customer’s privacy.  RIT’s own Corporate-by-laws prohibit selling client lists. We are in the business of selling reports on specific companies and individuals and then, only for permissible purposes as defined by the Government (FCRA/FACTA). 

Q. How much does a report cost?

A.   The RIT “$1 (one dollar) profit cap” which states that RIT will never price individual/residential reports to data contributors more than $1 over costs. The price could be lower, ideally free, but never higher. The price to non-contributors will likely be much higher and should help keep contributor prices very low.  Pricing remains a fluid situation until our reseller network is completed. 

Q. Is RIT a tenant screening company?

A. No, absolutely not. While RIT may work closely with screening companies to distribute our products, RIT itself is not a screening company.  To the extent possible RIT will support whichever screening company our clients choose.  Our reports are meant as a companion to other screening products and can be sent as a stand alone report or transmitted as raw data to be included within another screening product.

Q. Who Is RIT affiliated with?

A. RIT is a completely independent company and not directly or indirectly affiliated with any company or organization that would jeopardize the objectivity or trust essential to a pro-consumer national repository.  We treat all data contributors, clients, property owners, management companies, screening companies, and software providers equally, with fairness, superior service and redundant security.  The nature of our company requires that we always remain neutral and objective with the best interest of the data contributor, their customer, the consumer and data integrity as our foremost objectives.  Further, RIT is not controlled, by or a subsidiary, of a credit bureau or data aggregator.

Q. What other services does RIT provide?

A. None.  We continually look at ways to benefit our clients and the consumer; at this time no goods or services are being offered.

Q. What information can be reported?

A. In addition to payment histories, within each industry we can track specific behavior information.  Subjective information is not permitted in our repository, only the verifiable and objective information chronicled in management software.  When interfaces are completed we will track the industry specific information of most value to our contributors. 
Q. Where does the information come from?

A. Data in our repository come from contributors that typically do not report payment information to the credit bureaus.  The credit repositories have become invaluable to lenders in determining credit worthiness; in the same way, the RIT repository will help other industries select the most qualified applicant.  It is in the best interest of all parties to contribute data and order reports.  Companies on our waiting list will be the first to be notified when we start accepting data.

Q. What happens if I contribute incorrect information? 

A. Incorrect information must be corrected within 30-days of a consumer’s dispute, obviously the sooner the better.  Corrected information will be automatically updated by the next nightly data transmission.