RentRedi Enhances Tenant Screening Feature With Plaid Integration

Property management software provider RentRedi has expanded its integration with financial data network Plaid.

Having already integrated with Plaid for years to simplify rent collection, RentRedi has expanded the integration to enhance its tenant screening feature, the company said in a Thursday (Jan. 11) press release.

This integration aims to provide advanced capabilities to RentRedi’s tenant screening feature by leveraging Plaid’s technology to enable landlords to verify the income and assets of prospective renters, according to the release.

“Adding advanced functionality and enhanced security is driven by our mission to make the renting process easier for both landlords and tenants,” Ryan Barone, co-founder and CEO of RentRedi, said in the release.

The new automated Tenant Income and Asset Verification feature adds an extra layer of security for both landlords and tenants, according to the release.

For landlords, this feature enhances risk assessment and helps determine which rental applicants are more likely to pay rent, the release said. By providing a comprehensive and accurate financial picture, it reduces the chances of fraud, such as the use of fake pay stubs and bank statements.

On the tenant side, RentRedi’s Tenant Income and Asset Verification feature offers increased protection, per the release. It allows landlords to assess a tenant’s ability to afford rent without requiring sensitive financial documents, such as bank statements and pay stubs. This ensures the security and privacy of the applicant’s financial data.

RentRedi also provides tenant applicants with a comprehensive checklist to guide them through the application process, increasing transparency and visibility into the tenant screening process, according to the press release.

In another recent move, RentRedi expanded in August with the acquisition of eRentPayment and PaymentReport. The company said at the time that this acquisition would expand its team and further simplify the rental process for landlords and tenants.

RentRedi aims to streamline the renting experience through automation, partnerships and integrations, Barone told PYMNTS in an interview posted in April 2022.

“The dream for me is for landlords and tenants to look back and have this incredible experience of renting and almost not be able to imagine it being as stressful as it probably is for some of them today,” Barone said.