Introduction to Rentzap
This page answers basic questions to get you familiar with Rentzap's underwriting service
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This page answers basic questions to get you familiar with Rentzap's underwriting service
Last updated
Was this helpful?
Rentzap is a third-party rental application underwriting service.
Property managers partner with Rentzap to process their applications from "app thru approval"
Rentzap is responsible for deciding if applicants meet or don't meet rental criteria set for a listing in advance by the property manager.
Unlike application software, Rentzap is a full underwriting service. Rentzap provides an underwriting service similar to what a mortgage company provides. Rentzap handles all of the follow up, communication, documentation gathering, verification and more.
Provide online Rental Applications to applicants
Answer applicant questions regarding the application process
Follow up uniformly with applicants at all stages in the process
Collect and verify Supporting Documentation with third-party sourced data
Evaluate verified application data against preset rental requirements
Manage a "First In First Out" queue of applicants to ensure fairness
Handle denials and application fee refunds
Send comprehensive Evaluation Reports for approvable applicants
Time Savings: We take care of all the tasks associated with processing rental applications, such as background checks and income verification and more
Increased Accuracy: We combine sophisticated technology with an experienced team of underwriters to accurately and quickly assess an applicant's financial stability.
Compliance: We are knowledgeable about the latest rental laws and regulations and ensure that property managers remain compliant with them.
Reduced Risks: We help detect and prevent fraudulent applications and identify applicants with a history of rental problems.
Improved Tenant Screening: We offer a more comprehensive and thorough screening process, which can result in better-quality tenants who are more likely to pay rent on time and take good care of the property.
Cost-Effective: We are more cost-effective than hiring and training in-house staff to handle the process. Our service benefits from economies of scale and we pass the savings on to property managers.
Access to Expertise: We bring a wealth of expertise to the table having processed thousands of applications and can provide valuable insights to property managers and and their applicants
Rentzap is free of cost for property managers with 100 doors or more.
We charge $75/mo for property managers with less than 100 doors
We charge a $55 non-refundable application fee to adult applicants.
Applicants are able to "re-use" their Rentzap application without any additional costs across available listing on our platform for up to 60 days.