RentRedi Data Shows Tenant Screening Leads to Increased On-time Rent Payments [Yahoo! Finance]
TransUnion (TRU)
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Source: Yahoo! Finance
NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- RentRedi , the fastest-growing property management software, released new data that demonstrates the effectiveness of its tenant screening feature in helping landlords collect rent early and on time. RentRedi data collected between January 2020 and August 2024 shows tenants submit their rent payments 17 days faster when they were screened by landlords using the RentRedi platform, compared with tenants who did not go through the screening process. Additionally, on-time payment rates for units with a tenant who underwent tenant screening via the RentRedi platform paid their rent on time about 90% of the time—7 percentage points higher than those who did not use tenant screening. These findings validate the importance of establishing an effective and efficient vetting process that identifies tenants who are more likely to pay rent on-time and less likely to lead to eviction when marketing a rental property. RentRedi offers a better solution
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