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Nova Credit Expands Income Navigator in Property Management with SafeRent Solutions

SafeRent will leverage Nova Credit’s Income Navigator to automate income verifications with near 100% applicant coverage

Nova Credit, a leading credit infrastructure and analytics company, and SafeRent Solutions, an innovator in resident screening and renter’s coverage solutions, have expanded their strategic partnership to offer residential property managers who use SafeRent the ability to accurately and seamlessly automate income assessments where traditional methods fall short.

Avoiding high-risk tenants is a top priority for property managers. To address this, many are incorporating income verification into their tenant screening process to guarantee that potential renters possess a stable and adequate income for meeting rental obligations. Despite this proactive measure, a survey by the National Multifamily Housing Council and the National Apartment Association reveals that more than 70% of major apartment landlords have observed a rise in fraudulent rental applications in the last 12 months. To address this issue, property managers need to access bank data and other relevant sources to accurately assess an applicant’s income, thereby minimizing the risk of fraudulent renters.

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Nova Credit’s Income Navigator solution works to accelerate the screening of potential renters while reducing fraud by using data that is straight from the source and advanced document-scanning technology. Now, as a part of SafeRent’s comprehensive resident screening reports and solutions, property managers who use SafeRent can perform fast, wide-coverage, FCRA-compliant income verifications seamlessly within the tenant screening process.

“Tenant screening processes are challenged. We are thrilled to expand our partnership with SafeRent and provide them with the credit data infrastructure and analytics needed to achieve their goal of making resident selection simple and effective,” said Akaash Gupta, Partnerships Lead at Nova Credit. “Since 2022, SafeRent has leveraged our Credit Passport® product to help U.S. newcomers find their home in the U.S., and now with our Income Navigator they are making that process easier and more secure for many more U.S. renters.”

“With fraudulent rental applications on the rise and efficient unit turnover as important as ever, it’s critical that we offer a streamlined and effective solution for property managers to improve their tenant screening processes. We are excited to have found that solution in our partner, Nova Credit,” said Blanca Esparza, Account Lead at SafeRent. “We are dedicated to offering our customers the most powerful tools to drive bottom-line impact, and we know the inclusion of Income Navigator within our suite of solutions will provide our property managers with just that.”

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[To share your insights with us as part of editorial or sponsored content, please write to sghosh@martechseries.com]

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