AppFolio, providers of web-based property management software that enables property managers to run a more successful business, today announced collaboration with Experian® RentBureau®, the leading provider of rental payment history data to the multifamily industry.
This collaboration maximizes the web-based nature of AppFolio’s property management software by enabling its clients to contribute and access Experian RentBureau industry data. The automated reporting of resident rental payment history to Experian RentBureau reduces human intervention and offers AppFolio’s clients a faster, easier set-up process and access to the most current rental history data. This seamless method of acquiring data, from multiple property managers at once through web-based software, is a first-of-its-kind for Experian RentBureau.
Existing and future AppFolio clients using AppFolio’s Resident Screening service will have the option to easily contribute resident payment history data to Experian RentBureau via the AppFolio software. AppFolio clients who choose to participate will also gain access to the Experian RentBureau rental payment history data, including on-time rent payments, late payments as well as information regarding skipped leases and any outstanding debts and/or collections, which is updated every 24 hours. With this information AppFolio customers are better equipped to identify the highest quality residents, effectively reducing the risk of bad debt and improving leasing decisions.
Experian RentBureau’s parent company, Experian, the leading global information services company is the first and only major credit reporting agency to include rental payment data in its credit reports.
“The collaboration between AppFolio and Experian RentBureau creates a streamlined approach for AppFolio customers to contribute their data and use the Experian RentBureau file in their screening process. This is a big win for these customers, the industry at large and, especially, the residents who will now be able to establish and rebuild credit through on-time rental payments,” said Brannan Johnston, vice president and managing director for Experian RentBureau.
AppFolio customers who choose to participate by contributing data to Experian RentBureau via AppFolio’s web-based software gain a competitive advantage by helping residents rebuild or establish credit through on-time monthly rent payments. Leveraging rental payment history data also helps prevent prospective residents from signing a lease before their past debt is settled, helping debt recovery for fellow property managers. This additional information will be provided at no additional charge to AppFolio customers using the built-in resident screening feature.
Headquartered in Santa Barbara, AppFolio was started by a team of technology leaders with proven experience creating software that businesses love to use. AppFolio creates complete, easy-to-use, web-based solutions for multiple markets and the first AppFolio SaaS service (AppFolio Property Manager) was specifically created for residential property managers. AppFolio also provides RentApp the first free, online rental application solution. With original investors including Cisco Systems, BV Capital and the Investment Group of Santa Barbara, AppFolio’s rapid growth is being fueled by very happy and loyal customers. For more information, please visit www.AppFolio.com.
About Experian Rentbureau
Experian RentBureau is a subsidiary of Experian, the leading global information services company. RentBureau was acquired by Experian in 2010 and is now the leading provider of rental payment history data, with information on more than 8 million residents. Currently, more than 3,000 apartment communities contribute data every 24 hours to Experian RentBureau. Its data is utilized by property managers through their existing resident screening companies and is now incorporated into Experian credit reports. For more information, please visit www.experian.com/rentbureau.
Vice President Marketing