June 20, 2023 • 7 min read
Implementing a robust tenant screening software solution can significantly reduce the time spent processing applications and help you quickly identify the most qualified applicants.
It’s like ZipRecruiter. Except, instead of helping recruiters find, screen, and interview potential job applicants, tenant screening software enables you to skip some of the manual busywork of the tenant verification process and focus on approving qualified applicants in hours instead of weeks. (Now THAT’S zippy.)
Tenant screening processes use manual evaluation or tenant screening software to help property owners or managers vet potential tenants. It’s a multi-step process involving scanning or reading complex applications and uploaded documents like employment history, income or identity verification, etc.
It is possible to review all this information personally. However, let’s say it takes 2-3 days to collect and review applicant information and reach out to references. You can afford to check tenant data this way if you have one single-family unit, or even a few, that are rarely vacant. For a property management company or a property owner with multiple properties, a manual screening process quickly cripples efficiency.
Tenant screening software not only saves you this time and money, but it can also help improve the accuracy of your results by reducing the opportunity for human error and application fraud. Thankfully, there are a ton of great options for tenant screening software, but with so many options on the market, how do you find your ideal software?
Thankfully, we’re here to help, comparing eight of the top tenant screening software solutions. With different features and price points, understanding the pros and cons of each empowers you to make an informed decision on which one is right for your company and property managers.
Many tenant screening software solutions are on the market, but not all are created equal. Here’s what we consider the top nine systems on the market and some key advantages of each.
Avail, owned by Realtor.com, is an excellent tool for independent property owners or property managers (PMs) who want accounting help and property management tools. The platform offers both, plus rent collections, tenant communications, and content for “professional landlords.” Its simplicity and affordability are two key pros.
Intellirent, an end-to-end tenant screening software, is best for growing and high-volume management companies and brokerages. Its key boasting point is that the comprehensive software helps owners and PMs fill vacancies in 24 hours or less by providing rapid access to credit and rental history, income verification, and more. In addition, its Active Rental Marketing syncs across multiple listing sites so you can attract qualified renters quickly, and Intellirent’s Renter SmartMatch feature helps provide the information that you need to find renters that are the right fit for your property. The software also allows leasing professionals to create customized applications and integrates with popular property management applications for a seamless approval experience.
MyRental, a SafeRent Solutions company, is a jack-of-all-trades service. The company specializes in tenant screening services for landlords, real estate agents, and property managers, making it a good solution for many companies. It has an extensive database and robust reporting, making it an excellent tool for landlords with a lot of tenant screening. MyRental also offers these services individually for companies that don’t need a full-service solution.
Rent Manager is a property management software for owners or PMs of duplexes or single-family homes. The company offers an excellent solution for new or small companies with tenant accounting, reporting, marking, and management capabilities in one platform. According to reviews on G2.com, the software’s adaptability is a key feature.
RentPrep is a unique software that focuses heavily on community, making it a great tool for low-volume, independent PMs and owners who want to grow their businesses. Though its tenant screening services are more straightforward compared to others, RentPrep empowers users to keep learning with extensive resources, including podcasts, guides, and tutorials.
RentSpree is best for Leasing agents in the state of California with a smaller volume of applicants or teams. All “basic” checks like credit score, criminal and eviction history, and credit scores and reporting are included in the base model, making it a good tool for those seeking a complete solution. In addition, its all-in-one portal boasts zero cost to real estate agents, PMs, or owners. Instead, they choose to let the applicant cover costs.
Founded in 1992, TenantAlert is one of the older tenant screening tools. This helped the company build one of the largest records databases to help PMs and homeowners in the U.S. and Canada find and vet qualified tenants. They offer all basic checks with options for advanced screenings, and promise a 30-second turnaround time and minimal data entry on initial applications.
SmartMove, a TransUnion company, is ideal for small-scale PMs and owners. It has the unique advantage of being owned by a credit monitoring company (although some of the other tools also use TransUnion for verification). It also offers the flexibility for associated fees to be paid by either the applicant or the inquiring party.
Last is TurboTenant, designed for individual property owners with few properties. The property management software offers comprehensive checks, including credit and criminal history reporting and evictions. Its base operating costs are free, and the starting price is low, adding to its appeal for smaller PMs.
All these tenant screening services offer slightly different advantages. Finding your best choice depends on what your business and PM need and what makes the most sense for your location and size.
Book a product tour if you’re looking for an end-to-end leasing solution with vacancy marketing, robust screening features, and a user-friendly experience for applicants and agents. See how Intellirent can reduce friction in your leasing process.
June 20, 2023
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