What is a "rent verification"?

"Rent Verification" is a process used by landlords, property managers, or financial institutions to confirm a tenant's rental history and payment record. This typically involves contacting previous landlords to verify the amount of rent paid, timeliness of payments, length of tenancy, and overall conduct as a tenant. This process is typically difficult and time-consuming with low completion rates without the help of a technology provider such as Trigo.

Rent verification is commonly used during tenant screening processes, mortgage applications, or when a tenant is seeking new housing, to assess financial responsibility and reliability. There is often a misconception that rental history is available in credit bureau reports; however, unlike credit card companies or other financial institutions, over 95% of landlords do not report this data to the credit bureaus. As a result, this data is very difficult to ascertain as an underwriter or landlord without partnering with data and technology providers such as Trigo.