Yardi Enhances Resident Screening with Nova Credit Income Verification

Bank account link and pay stub upload options empower rental managers and applicants

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Nov 08, 2021, 15:24 ET

SANTA BARBARA, Calif., Nov. 8, 2021 /PRNewswire/ -- Yardi® will help residential property managers perform fast, secure, Fair Credit Reporting Act-compliant income and employment verifications by incorporating additional technology from Nova Credit into its ScreeningWorks® Pro resident screening solution.

The Nova Credit solution lets prospective renters verify their income by linking to a bank account or uploading a pay stub. This represents a new option for applicants who aren't employed by a company that furnishes their payroll data to The Work Number® from Equifax, which Yardi has offered for several years.

"ScreeningWorks Pro seamlessly incorporates credit reports, rental history, income and other publicly reportable civil or criminal data in the leasing process. Nova Credit's income verification solutions extends this capability by expanding our coverage while mitigating fraud and delivering significantly higher income verification success rates without burdening our clients' leasing agents with manual tasks. Applicants also benefit from fast and efficient verification, whether they work for a large or small company, are self-employed, or work in the gig economy," said Patrick Hennessey, vice president of resident screening for Yardi.

"For years, Yardi has leveraged our Credit Passport® product to help recent immigrants get their first apartment here in the U.S., and now they are making that process easier for a broader set of U.S. renters using our income verification product," said Misha Esipov, co-founder and CEO of Nova Credit. "This marks an exciting expansion of our relationship with Yardi and a huge step toward ensuring more people can seamlessly get the housing that they need."

Learn more about how ScreeningWorks Pro enables automatic and compliant approval of low-risk residents and reduces losses from collections, evictions and legal actions. The solution is part of a single connected solution for multifamily real estate management.

About Nova Credit

Nova Credit unlocks financial opportunities for those historically excluded from the credit system. With an audacious vision for stitching together the world's credit data into a single network, Nova Credit started by serving the financial needs of immigrants into the United States by enabling them to apply for financial services using their international credit history from more than 15 countries worldwide. The company has since expanded to support those with insufficient history to gain access to credit services. Nova Credit's real-time delivery of this reliable data enables banks, lenders and telecommunications companies to instantly serve immigrants faster and more fairly. Headquartered in San Francisco and built on a mission to power a fair and inclusive financial system for the world, the company was founded by immigrants and is backed by leading investors including Kleiner Perkins, General Catalyst and Sound Ventures. Learn more at novacredit.com.

About Yardi

Yardi^® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

SOURCE Yardi