RentRedi Expands Integration with Plaid, Offers Tenant Income and Asset Verification
RentRedi, an award-winning property management software that simplifies the renting process for both landlords and renters, has expanded its integration with Plaid, a data network powering over 8,000 popular financial apps and services, to offer advanced capabilities to its tenant screening feature. Rentredi is leveraging Plaid to provide landlords with the ability to seamlessly verify the income and assets of prospective renters, without requiring the exchange of sensitive documents. The integration protects all parties by reducing the risk of fraud and providing a more accurate financial picture of applicants all in one location.
RentRedi’s new automated Tenant Income and Asset Verification feature, powered by Plaid, adds a new security layer for landlords and tenants while ensuring that both parties are a good fit for a rental relationship. For landlords, RentRedi Tenant Income and Asset Verification provides enhanced risk assessment, strengthening the ability to determine which rental applicants are more likely to pay rent by providing a more comprehensive and accurate financial picture. It also reduces fraud by preventing the use of fake pay stubs and bank statements, which are commonly used by applicants attempting to qualify for rental units they cannot afford.
On the tenant side, RentRedi Tenant Income and Asset Verification extends protections for rental applicants as well. Landlords can determine a tenant’s ability to afford rent without requiring an applicant to provide physical bank statements and pay stubs or disclose sources of revenue streams. This ensures that the applicant’s sensitive financial data and privacy remain secure. Additionally, RentRedi provides tenant applicants with a comprehensive checklist to follow when filling out applications that guides them through the process and increases transparency and visibility into the tenant screening process.
“Adding advanced functionality and enhanced security is driven by our mission to make the renting process easier for both landlords and tenants,” said RentRedi Co-founder and CEO Ryan Barone. “Our seamless integrations with Plaid have provided our customers with simplified rent collection processes for years. Expanding our partnership delivers the most cutting-edge technology to customers using our web and mobile apps.”
Prior to deepening its relationship, RentRedi already used Plaid during the rent collection process to connect financial accounts at any bank or credit union in the United States for ACH transactions between landlords and tenants. The companies have upgraded their relationship to enable RentRedi landlords and property managers to verify the income and assets of rental applicants during the tenant screening process by using a trusted third party with direct access to information from financial institutions.
ABOUT RENTREDI
RentRedi offers an award-winning, comprehensive property management platform that simplifies the renting process for landlords and renters by automating and streamlining processes. For landlords, RentRedi provides all-in-one web and mobile apps to collect rent, list and market vacancies, find and screen tenants, sign leases, and manage maintenance and accounting. For tenants, RentRedi’s easy-to-use mobile app allows them to pay rent, set up auto-pay, build credit by reporting rent payments to major credit agencies, prequalify and sign leases, and submit maintenance requests.
Founded in 2016, RentRedi is VC-backed and a proven leader in the PropTech market, being named an Inc. Power Partner, a GetApp Category Leader, a Capterra Established Player, and a G2 High Performer and Momentum Leader based on the software’s user ratings and popularity. To date, RentRedi has more than $20 billion in assets under management with nearly 200,000 landlords and tenants using the platform. The company partners with technology leaders such as Zillow, TransUnion, Realtor.com, Plaid, Stripe, and Sure Insurance to create the best customer experience possible. For more information visit RentRedi.com.