RentBureau Launches Immediate Rental HIstory Verification System

By Erika Schnitzer, Associate EditorPalm Springs, Calif.–RentBureau, a credit bureau for the multifamily industry, launched, a Web site providing immediate verification of rental history, at the National Multi Housing Council (NMHC) Annual Meeting today.“What is unique is that it is automated,” says Eric Hartz, president and CEO of RentBureau, pointing to the apartment industry’s history of operating manually. “We get the data pushed to us from all software packages.” utilizes RentBureau’s database, which collects rental payment histories daily from its national network of property owners and managers, who provide their rental data directly to RentBureau. In exchange, members can search for rental payment histories on new applicants through their existing screening service.  “On the receiving end, for the company getting the request [for an applicant’s rental history], it’s not their top priority,” notes Hartz. However, he explains, RentBureau already has the data, so members can access for the information they eliminates the cost and time wasted by former and potential property managers waiting for applicant rental verification. “It removes all the pain and hassle of dealing with faxing back and forth and getting all the information,” Hartz tells MHN. “You eliminate the cost and effort of having to provide the people-time of confirming renters.”In addition to streamlining the process of applicant verification, RentBureau provides an objective appraisal of renters’ habits, thus eliminating the potential liability issues property managers could face if they are perceived as subjective, Hartz points out.However, Hartz notes that the product is a win for both property managers and residents. “A lot of times it’s all about saving money, but we are also helping residents—good renters,” which he says is especially important in the current economy for “people who are trying to get back on their feet.” rental confirmation reports are also available for nonmember companies who want to utilize RentBureau’s data, which keeps track of over six million residents nationwide.