Five ways to get to a one-day resident screening decision
When it comes to resident screening, time is money. Here are five key tactics to shave hours off of your review, without sacrificing on thoroughness.
The cost of turnaround time
The speed of any leasing team’s approval decisions has an undeniable impact on overall unit-filling efficiency and ultimately, their bottom line. Property managers capable of a streamlined, one-day decision have a critical advantage: they can get qualified renters in homes faster, and accelerate growth for the company. So the question is “how?” As the folks behind the fairest, fastest all-in-one screening platform—we have a few pointers.
1. Clarify requirements early
Too often applicants are faced with a list of questions and requirements they either can’t understand, or worse—unknowingly get wrong. Mistakes at this point can make or break an application; imagine the frustration of losing out on a place you love because you sent two paystubs instead of three. While the leasing team does their best to track down the right information, both the applicant and the PM lose precious time when a decision could have already been made. Though it seems obvious, you’d be surprised to see how many bumps in the road come from simple misunderstandings. It’s essential to clearly outline all application requirements from the beginning to avoid unnecessary delays or even a lost opportunity.
2. Validate identity in real-time
Making sure an applicant is who they say they are is another crucial step underlying the entire tenant screening process. Looking across multiple documents, in addition to the applicants’ ID, is one simple way to boost verification efficacy. Taking things a step further, digital identity verification tools can provide immediate defense against the threat of ID fraud. In fact, some automated verification technology enables applicants to prove who they are without a second thought. Within the Findigs application for example, a real-time selfie match can instantly establish a foolproof foundation for the rest of your review.
3. Broaden your income horizons
Building your workflow around income inclusivity isn’t just more fair, it’s also more efficient. Income verification can be one of the trickiest (and thus, time-consuming) steps on the path to a decision. Secure bank and payroll linking is a game-changer, giving your team instant access to airtight info and removing hours of manual work. But even if you have a streamlined process down when it comes to regular paystubs and bank statements, income verification is never going to be cut-and-dry for everybody.
True income inclusivity means being able to welcome applicants no matter how they choose to show their financial readiness to rent. While clear document upload guidance is a crucial piece here, it’s equally important to optimize the document verification process on your end, too. The tighter your process is around collecting, examining, and verifying income via documents, the more equipped your team will be to handle every single application.
4. Give your fraud-detection skills a boost
Document altering methods are getting more sophisticated, and reviewers are under more pressure than ever. While even the smallest hints of potential fraud can’t get past a seasoned pro, that eagle eye takes a lot of time and training to develop. When you add the stress of a ticking clock, it’s no wonder that faulty decisions can slip through the cracks.
Getting into the nitty gritty with each document isn’t exactly a quick process—unless you have technology that can do it instantly. The Findigs Document Analysis Engine is designed to help bring speed and peace of mind to every review. The engine, which currently runs on all bank statements and paystub PDFs, flags anomalies and invisible signs of digital tampering just seconds after the file is uploaded.
Armed with insight into what’s going on under the surface of each document, you add an invaluable layer of confidence to every decision. As a result, you can get new team members up-to-speed faster, and reduce the stress of uncertainty for everybody.
5. Keep pets and renters under one roof
Pets and animals are an important part of your renter community, but screening animals adds time-consuming steps to your review process. Third-party screening services can distract applicants and delay decisions, especially when it comes to ESA verification.
Integrating your pet review process helps keep applicants on track, and lets you maintain control of the entire application journey, but it also needs to be done carefully: manual review requires tons of time and energy from your team to ensure accuracy and compliance.
With Findigs, you can bring fast, fair pet and assistance animal verification directly into the application experience. Applicants stay in the know on your specific pet policies, and see responsive guardrails to prevent pet-related denials. Our team conducts thorough support animal validation in under 48 hours, so you can eliminate risk and avoid delays. With Findigs, you can leave pet screening to the verification experts: pet-friendly is now user-friendly.
Approve Faster with Findigs
With Findigs, the coveted one-day decision turnaround is no longer out of reach. From the moment someone hits “Apply,” Findigs guides them through with clarified steps, instant income and ID checks, and seamless pet verification—and that’s only half of the time-saving equation. Once an application arrives for review, Findigs provides all the tools you need (plus some you didn’t know you needed) to make a decision, and move on confidently. If an applicant opts out of bank or payroll linking, the Findigs Document Analysis Engine is there to keep fraud-free approvals in motion. If a new ESA document is needed, our pet verification team is on it before you can say “reasonable accommodation request.”
It’s our job to understand all the different ways an application can take shape, and provide you simple, yet sophisticated solutions to keep every application on track to an approval. Findigs comprehensive screening software is here to help you handle whatever comes your way, faster and more thoroughly than you ever thought possible.