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Introduction to Rentzap
This page answers basic questions to get you familiar with Rentzap's underwriting service
- 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.
- 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.