Snappt Introduces AI-Powered Verification of Rent to Enhance Fraud Protection and Boost NOI
Snappt, a leader in applicant verification for multifamily housing, has announced the upcoming launch of Verification of Rent (VOR) powered by Trigo. This new feature, revealed at the NAA Apartmentalize conference, expands Snappt’s Applicant Trust Platform to provide property managers with faster, more accurate financial verifications and stronger fraud defenses.
Verification of Rent automates the process of confirming an applicant’s rent payment history by directly accessing reliable data sources, removing the need for time-consuming manual landlord outreach. This innovation uncovers rental payment patterns that credit reports often miss, identifying applicants who are up to four times more likely to default. At the same time, it helps qualified renters with solid payment histories get approved, improving occupancy rates.
Traditional credit bureaus cover less than 5% of rental history, but Snappt’s VOR delivers 25 times more coverage and achieves over 80% verification success—significantly higher than the industry standard of under 50% when done manually. This depth of data allows property managers to make confident decisions based on comprehensive rent payment records.
Expanded Features Strengthen Snappt’s Verification Platform
Alongside VOR, Snappt is enhancing its Verification of Assets (VOA) and bank account linking capabilities through a new partnership with Mastercard’s open banking platform, powered by Finicity. These upgrades reduce application friction, speed up processing, and enable approval of applicants with significant assets who may not meet traditional income thresholds.
- Verification of Rent (VOR): Automated, accurate rent payment verification that cuts manual work and improves risk assessment.
- Bank Account Linking: Instant bank verification to streamline applications and boost approval speed.
- Verification of Assets (VOA): Confirms asset holdings to approve creditworthy applicants beyond income checks, enhancing occupancy and net operating income.
- Industry-Leading Fraud Detection: AI-driven technology and a dedicated fraud forensics team analyze over 13 million documents, achieving 99.8% accuracy.
- Connected Payroll: Real-time income and employment verification through direct integration with 90% of US payroll providers.
- ID Verification: Biometric technology with over 30 security checks and support for more than 4,600 global ID types.
These tools give property managers faster, more reliable insights to approve qualified renters and maintain community integrity with less manual effort.
Setting a New Standard for Leasing Decisions
Snappt’s CEO emphasized the importance of speed, security, and trust in leasing. Property managers face growing pressure to make accurate decisions quickly, and Snappt’s platform aims to meet this need by delivering comprehensive verification and fraud protection in one solution.
For professionals involved in multifamily housing, these enhancements can translate into smoother leasing workflows, reduced risk, and improved net operating income.
Learn more about how Snappt’s Verification of Rent and other services can benefit your property management process by visiting Snappt’s website. You can also explore these solutions at booth #345 during the Apartmentalize conference.
About Snappt
Snappt provides a comprehensive verification platform tailored for multifamily housing. It detects fraud and verifies identity, income, and assets to empower operators to approve qualified residents confidently. With over 13 million documents analyzed and a 99.8% accuracy rate, Snappt leads the industry in fraud detection and verification technology. Ranked #1 in AI on the Inc. 5000 list, Snappt combines advanced AI and proactive research to safeguard communities.
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