LeaseRunner, which builds tenant screening and online leasing software for the rental market, has announced a significant update of its main product suite that includes a new mobile-optimized rental application and tenant screening workflow solution. The additions have been made to simplify the user experience and reduce the time it takes to screen individual tenants, the company said.
The system is highly effective, allowing landlords to screen prospective tenants simply by entering their name and email address into the system. LeaseRunner then sends out an emailed rental application form together with a request for detais on the tenant's previous rental history, credit score, criminal record and financial profile. The applicant completes the request electronically from his or her email at the applicant's convenience and on any device. All necessary tenant screening authorizations are built in to the rental application, which is compliant with the Federal Credit Reporting Act.
LeaseRunner is also adding a new Financial Profile tenant screening service that gives landlords access to analysis of applicant's financial status and their ability to pay the rent on time. This report costs less than a credit report and helps a landlord distinguish between two applicants with similar credit scores.
"Our customer base asked for a solution to help them choose between multiple applicants with good credit scores and to help screen applicants that have little or no credit history,” said Joe Buczkowski, LeaseRunner's Founder. “The Financial Profile does this by analyzing their banking cash flow trends over the last 90 days, and providing verification of income deposits,"
The new report graphs the rental applicant's banking data and provides details and descriptions of deposit activity. The landlord will be able to see if on any given day, the tenant could afford the rent amount while also keeping a balance for other living expenses. Priced at $10, the Financial Profile is less than half the cost of a traditional credit report and takes the applicant only minutes to authorize on their mobile phone.