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Introduction to Rentzap

This page answers basic questions to get you familiar with Rentzap's underwriting service
Come visit us at https://www.rentzap.com for more information

What is Rentzap?

  • 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.

How is Rentzap different than application software?

  • 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.

What does Rentzap do?

  • 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

Benefits of using Rentzap

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

Pricing

  • 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.