VerticalRent Saves Real Estate Brokers and Property Managers Up to $40,000 Every Year
Saturday, September 5, 2015
VerticalRent, the pioneer of consumer-initiated tenant screening software for independent landlords, recently announced VerticalRent Ultimate - designed for brokerage and property management firms. This latest announcement underscores VerticalRent's broad appeal in the real estate marketplace from independent landlords to multi-office brokerage firms across the United States.
VerticalRent’s new Ultimate Edition is designed to save Brokers and Property Managers up to $40,000 each year with the lowest pricing available on all consumer reports, including: credit, criminal, and eviction reports. At $5.99 per report, VerticalRent has priced its credit, criminal, and eviction reports at the very lowest price point possible for its high volume customers. Property managers and Brokers can continue using VerticalRent’s existing invite model to obtaining credit reports, but now have the capability of running instant credit checks on applicants.
Brokers and Property Managers can purchase tokens that are exchanged for credit, criminal, or eviction reports. All credit reports contain detailed information about outstanding debts, payment history, account history, employers, and more. VerticalRent graphically categorizes the debts and liabilities in a summary view while also color coding (Green, Yellow, Red) the applicant’s credit score compared to the national average of 682.
For Landlords, Brokers, and Property Managers who collect paper rental applications, Ultimate Edition makes it easy to instantly run credit and background checks without electronically inviting the applicant. “The beauty of our two-flavor model is that we’re now providing customers with a choice: invite or instant. The invite-only credit screening model is still available and very useful for independent landlords and low-volume brokers. Ultimate edition opens the door for our larger volume customers to run instant credit and background checks at the industry’s lowest price point. It’s truly a win-win for our broad spectrum of customers,” said Matt Angerer, CEO and co-founder of VerticalRent.
Tenant screening can be costly for landlords and brokerage firms on two fronts. Screening costs are on the rise and eviction costs average $2,500 per tenant. Many tenant screening service providers charge upwards of $20 per credit report. At $5.99 per report for Ultimate Edition subscribers, VerticalRent is able to save brokerage firms $14 per report. At 2,000 credit reports per year, we save the average brokerage firm $28,000 on credit reports alone. Factoring in both criminal and eviction reports, VerticalRent is able to save the average Real Estate Broker approximately $40,000 every year – equivalent to the average administrative assistant salary.
VerticalRent (https://www.verticalrent.com) is FCRA-compliant tenant screening and rental property software for landlords, real estate brokers, and property management professionals. Secure online rent collection, vacancy advertising, free online rental applications, and best-in-class tenant screening makes VerticalRent the no-brainer choice for real estate professionals. Founded in 2011 and headquartered in Erie, Pennsylvania, VerticalRent is used by over 5,000 real estate professionals in all 50 states.
At VerticalCloud, we provide innovative web-based applications starting with real estate. VerticalRent and AppSingular provide landlords and tenants with a collaborative platform to improve the landlord-tenant experience. VerticalRent is FCRA-compliant tenant screening software. Our product is designed to assist property managers, landlords, and tenant screening firms that require advanced tenant screening capabilities. We also provide attorney-approved leases, sample real estate forms, a basic accounting system, no-cost online rent collection, vacancy advertising, and premium tenant screening services with no-cost credit, criminal, and eviction reports.