Overview
Verifying a tenant’s capacity to pay their rent doesn’t have to be time-consuming for you and tiresome for your customers. The Equifax Tenant Affordability Check provides speedy automated retrieval of customer bank transaction data.
Your customers follow a link that enables the secure extraction of income, expenses, and past rental payment information from more than 70 financial institutions. Within minutes you can view the information you need to make a fast, informed decision about their financial strength.
Streamline the process for determining rent affordability
Forty-five minutes of paperwork and repeated phone calls is the average time a property agent invests when manually assessing a customer’s ability to pay rent.
With the Tenant Affordability Check, this financial verification process occurs remotely, in real-time. Data from your tenant’s disclosed bank accounts is captured and analysed for you, revealing monthly income and expenses summary, repayment reliability and rent to income ratio.
This means no more customer friction from lengthy paperwork-heavy processes. Our technology supports both office and remote workers, eliminating the need for document-handling or in-person contact. Data is delivered directly to your existing applications via our rapid API connection.