Automatic tenant income & assets verification ensures an in-depth check of an applicant’s financial stability. Applicants will pay a total of $49.99 for their tenant screening, which includes the TransUnion background check ($39.99) and the Plaid-certified income and assets verification ($10.00).
Watch the video and see how it works! 🎥
What's Included in the Income & Asset Report?
The income and assets report provides key financial insights about an applicant, including:
Overview – A summary of the applicant’s financial verification results
Income Summary – Verified income details
Total Earnings by Month – Monthly income breakdown
Income Source(s) Overview – Information about where the applicant’s income comes from
Asset Summary – Snapshot of the applicant’s financial assets
Account Overview – Linked financial accounts used for verification
These insights help landlords make faster, more informed leasing decisions. 🎉
How to Enable Income & Asset Verification
Follow the steps below to enable income & asset verification for your tenant screenings:
From your RentRedi dashboard, click the Expand sidebar (») button.
Click Leasing, then select Screening Rules.
Select the unit you'd like to update.
If Auto-Tenant Screening is Disabled:
Check the box to include Income & Asset Verification.
Click Enable to save.
If Auto-Tenant Screening is Already Enabled:
Find the Income & Asset Verification section.
Click Yes to enable it.
Why Enable Income & Asset Verification?
For Landlords
Income and asset verification provides a more complete financial picture of each applicant, helping you screen with greater confidence.
Benefits include:
Better evaluate an applicant's financial stability
Reduce fraud by eliminating reliance on manually uploaded pay stubs or bank statements
Receive verified financial data directly from the applicant's linked bank account
Speed up the screening process with everything available in one report
For Tenants
The verification process is designed to be secure, convenient, and privacy-focused.
Benefits include:
No need to upload pay stubs or bank statements
Secure verification through encrypted bank connections
Greater privacy, since sensitive financial documents aren't shared with the landlord
A simple, guided experience to complete the screening
Secure & Private Verification
Income and asset verification is powered by Plaid, a trusted financial technology platform that securely connects to thousands of financial institutions to verify financial information. Applicants authorize Plaid to securely connect their financial accounts through an encrypted connection, eliminating the need to upload sensitive financial documents.
This secure verification process helps ensure:
Sensitive financial information remains protected
Income and asset data is verified automatically
Landlords receive reliable financial insights without accessing full bank statements
This creates a faster, more secure screening experience for both landlords and tenants.
For more information about how Plaid handles and protects consumer data, visit the Plaid Privacy Center.
Frequently Asked Questions (FAQs):
Q: What happens if an applicant doesn't have a bank account?
A: Applicants can decline the income and asset verification step during their application and leave a note for the landlord explaining their situation.
Note: If income and asset verification is required for the unit, applicants are still charged the full $49.99 tenant screening fee.
Q: Can landlords turn off income & asset verification?
A: Yes. Landlords can disable income & asset verification for a unit at any time. When disabled, applicants pay the standard $39.99 tenant screening fee, which includes the credit, criminal, and eviction reports only.
Need help? 💬
Contact us! RentRedi Chat Support is available 24/7! Access our Live Chat via the chat bubble in the bottom right corner of the RentRedi dashboard.