Tenant Assured is a yet to launch startup that pulls data from social media accounts so landlords can be sure their tenants are good for rent. From UK-based Score Assured, the new venture offers "clever tenant referencing," which takes creeping prospective renters online to a new level.
The software analyzes data from social media, giving landlords insight into whether a renter will be able to pay their rent. The landlords send a request to a potential tenant, and they are required to grant access to all social accounts, including Facebook, LinkedIn and Twitter. Tenant Assured pulls from not just public posts, but private messages and conversations so its natural language processor can create a report on "financial stress level," personality traits, life events and how often keywords like 'broke' or 'poor' appear.
This controversial tool might give landlords information they desire, but privacy and discrimination both present issues.
Financial Stress Software
Tenant Assured Lurks Social Media To Tell Landlords If Renters Can Pay
Trend Themes
1. Social Media Data Analysis - The trend of analyzing social media data to gain insights into individuals' financial stress levels and personality traits presents opportunities for software developers to create innovative tools for various industries.
2. Clever Tenant Referencing - The trend of using sophisticated tenant referencing techniques, such as analyzing social media accounts, presents opportunities for the real estate and property management industry to make more informed tenant selection decisions.
3. Privacy and Discrimination Concerns - The trend of using data from social media for tenant screening raises concerns about privacy and discrimination issues, highlighting the need for legal and ethical frameworks in this emerging field.
Industry Implications
1. Software Development - Software developers have an opportunity to create innovative applications and algorithms that analyze social media data to provide insights into individuals' financial stress levels and personality traits.
2. Real Estate - The real estate industry can leverage clever tenant referencing techniques, such as analyzing social media accounts, to make more informed and reliable tenant selection decisions.
3. Technology and Law - The intersection of technology and law presents an opportunity for legal professionals to develop frameworks and regulations that address privacy and discrimination concerns related to the use of social media data in tenant screening.