The Closing Docs and RentPrep Partner to Add New Income Verification Feature

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Leading automated income verification company, The Closing Docs, and top tenant screening company, RentPrep, partner to improve tenant screening process.

"It’s exciting to help RentPrep give their customers better data. Together, we're shortening marketing time and reducing risk."

The Closing Docs, the premier automated income verification provider, and RentPrep, the community-driven tenant screening service, have partnered to expedite and enhance the tenant screening process for landlords and property managers. By incorporating this solution from The Closing Docs, RentPrep's users now have the option to include automated income verification reports within their tenant screening package.

"We have had a high demand for income verification, especially over the past few months,” said Joseph Copella, Product Manager of RentPrep. “We’re excited to team up with The Closing Docs to streamline the tenant screening process even more by offering a convenient and effective way for RentPrep users to verify an applicant’s income.”

"Instead of asking property managers to interpret disparate data or chase down applicants for info, a couple clicks in the RentPrep workflow will provide instant access to accurate information," said Mark Fiebig, Founder, The Closing Docs. "It’s exciting to help RentPrep give their customers better data. Together, we're shortening marketing time and reducing risk."

RentPrep users can now include automated income verification in their orders, alongside background checks illustrating applicant credit, criminal and eviction history. The automated income verification element provides a quick and easy way for RentPrep customers to see actual net income using data drawn directly from the applicant's primary bank account.

Upon receiving an invite via email and text message, applicants use their computer or mobile device to securely log in to a bank account. The Closing Docs then automatically generates a report summarizing deposits, identifying employers, and showing monthly and annual net income figures along with current and average balances. Applicants can review the report for accuracy, include additional accounts, and add explanatory statements if desired, but they cannot change the contents of the report. The completed report is then instantly shared with RentPrep users for review.

By partnering with The Closing Docs, RentPrep sees how the automated income verification service will provide users with a more comprehensive and effective tenant screening package.

To learn more about the benefits of automated income verification, visit: https://theclosingdocs.com/how-it-works

About The Closing Docs
The Closing Docs, based in tech-centric Seattle, was founded in order to streamline income screening for property managers and lenders. More accurate applicant income information aggregated into normalized reports has significantly decreased processing time (~30%) for rental applications and increased funding rates (~15%) for loans. Bolstering business for property managers and underwriters by giving them faster access to better data is a big step forward. With The Closing Docs, teams close more deals. Faster.http://www.theclosingdocs.com

About RentPrep
RentPrep has been providing background checks to large employers and property management companies since 2007. RentPrep was born from the realization that smaller landlords do not have the same access to quality tenant screening that the big companies do. Until RentPrep, they’ve settled for instant, online reports that are often incorrect and inaccurate. https://rentprep.com

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Veronica Ashton
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