Resident Screening
Maximize revenue through insight.
What Can ResidentIQ® Do For You?
The multifamily market is booming with an influx of new renters, and property managers need the best tools to assist them during the screening process. It’s essential that you can quickly and accurately make the best rank order risk decisions with the available rental pool.
Resident Screening
Resident Screening With AI Technology
No two property management companies are the same. What may work for one might not work for you. That’s why ResidentIQ uses artificial intelligence technology to allow you to make accurate risk decisions on borderline applicants and offset end-of-lease cost. Also, with the intelligence scoring matrix, you can make adjustments to the applicant settings at the property level. That means the software’s results are always accurate to that property’s needs. It’s resident screening for the modern age.
Predictive Scoring
A New Way of Scoring Background Checks
Rather than a black-and-white pass/fail system, ResidentIQ offers more nuanced results that allow you to make informed decisions about borderline applicants. Rather than using a basic, “rule of thumb” approach, ResidentIQ analyzes predictors of behavior that drive good rental performance. After one use, you’ll easily identify the low-risk and high-risk renters while also making an accurate risk assessment on those applicants in the middle. More than a standard background check, this predictive scoring model lets you maximize revenue while minimizing risk to determine how well an applicant will perform over the course of a lease term.
Reporting
Actionable Management Reports
With an everchanging market, it’s vital for property managers to keep their acceptance criteria dynamic. ResidentIQ makes that easy with actionable management reports. Once you sign up, you’ll be able to use the management reports to gauge the effectiveness of your acceptance criteria against NOI performance as well as market conditions. With this data, you’ll be well equipped to create customized tenant screening equation for each property and decide how to keep your standards.
Risk Analysis
Comprehensive and Accurate Risk Analysis
When it comes to accepting resident applications, “risk” can be a tricky thing to define. ResidentIQ goes beyond the standard resident credit check and instead uses a time-tested data-driven method of risk analysis. A statistical model is used to add nuance to applicants in the borderline range, allowing property managers to make informed decisions based on seasonality and market demand.
Pre-Qualifications
Save Time With Instant Pre-Qualifications
One of the easiest ways to save time during the application process is with ResidentIQ’s instant pre-qualification feature. We know that the first thing property managers check is the financials. That’s why we’ve enabled instant pre-qualifications so you can narrow down the applicant pool quicker than ever. Simply set the minimum requirements for the application process. While ResidentIQ is conducting a thorough tenant background check that includes potential criminal history, you’ll be able to immediately review a prospect’s financials. With this, you’ll remove unqualified applicants from the pool so you can focus on more suitable potential renters while staying in compliance with FCRA laws, Fair Housing laws, and HUD guidelines.
Online Fraud Prevention
ID Verification Tool and Fraud Prevention
At ResidentIQ, we understand that there is a need to protect property managers from fraudulent applications. With a large pool of potential renters, it can be difficult to manually check and verify each application. Instead, eliminate the risk of renting to fraudulent applicants with ID Verification tool. It’s built into our resident screening system, so false applicants are removed quickly. ID Verification does more than just validate social security numbers or government documents. It also includes income verification, checking an applicants reported income against banking, payroll, and/or credit bureau data.
Learn more about how ID Verification can protect your business from fraudulent applicants.
Integrations
Connect ResidentIQ With Your PMS
ResidentIQ integrates with the industry’s most popular property management software. Preview some of our integrations below and click the button to get a full list of ResidentIQ’s integrations.
Preferred Integration Partners:
Threshold Adjustments
Dynamic, Real-Time Threshold Adjustments
The market is fluid, and your software needs to be able to change with it. With ResidentIQ, you can make dynamic, real-time adjustments to your prospect threshold to make sure that you’re getting the most qualified candidates for the rental market at any given moment. A potential renter’s score will always remain the same across any market, but your risk threshold will vary depending on market conditions. By adjusting the threshold, you’ll be able to incrementally manage risk and make the best decisions for right now and for your market.
Disqualified Applicant
History of rental defaults and collection debt
Marginal Applicant
Favorable Applicant
Good payment history and no collection debt (mid-level deposit)
Best Applicant
Great payment history and no collection debt (standard deposit)
Contact Us
We’re Here For You
When you sign up with ResidentIQ, you’ll feel good knowing that support is always there ready to assist you. We offer phone support as well as text and chat options, so you’ll be able to get in contact on your schedule and at your convenience.
Onboarding
Speedy Onboarding Process
Once you’ve completed renter screenings, it’s time to start the onboarding process. ResidentIQ makes that easy for you and your new renter with the automated lease generation feature. We can upload your lease and addendums into ResidentIQ for easy access, search, and signing. This prospect-centric approach makes online leasing safe and easy for everyone. Plus when it comes time for lease renewal, you’ll have a more accurate estimate of vacancies. Around 80% of leases are done online, so stay ahead of the curve with fast and efficient onboarding.
Enjoy an easy and accurate leasing process thanks to ResidentIQ®.
Schedule time to chat today.