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Creating a Frictionless Leasing Experience

Published: October 11, 2023 by Manjit Sohal

Signing new residents is not just about offering the right apartment home at the right price.

Granted, that’s obviously a huge part of the equation, but operators also need to provide prospective residents with a seamless shopping and leasing experience. If potential renters encounter any friction or hardships during this time, they are likely to take their home search elsewhere.

Today’s prospective renters want to be able to tour and gather information about apartments on their own time, and they want a quick “yes” or “no” after completing their lease application.

With that in mind, automated income and employment verification – among other tools and solutions like self-guided and virtual tools, chatbots, and automated form fills, is one of the main features and technologies operators should consider implementing if they haven’t already done so, to ensure we are meeting the renter where they are.

Automated verification of identity, income, assets and employment

For leasing managers, automated technology eliminates the need to manually collect the documents required to verify a prospect’s self-reported information, which can be a tremendously time-consuming task that extends the overall leasing timeline and increases the exposure due to unoccupied units. Automated verification also reduces the opportunity for bad-faith applicants to submit fraudulent documents related to their financials or employment history.

The best part about verification is the variety of options available; leasing managers can pick and choose verification options which meet their needs without breaking the tenant screening budget. Experian has multiple verification solutions and use cases to compare which one may work best for your community.

The Experian difference

To learn more about our suite of rental property solutions and ways we support the tenant screening process with data-driven insights, and verifications, please visit us at www.experian.com/rental.

This article was originally published on MFI. Read more on MFI for a detailed look at additional tools and technologies operators should consider.

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