Trustii, the simplified pre-rental screening. Discover the history of the candidate-tenant
March 15, 2023 | Pre-rental screening, Property Management, Rental properties | Rental
UpperBee gives you a head start on pre-rental screening, in partnership with Trustii, and gives you access to the most in-depth solution, powered by the latest technology. This feature allows you to get your survey and credit reports in minutes, 24 hours a day, 365 days a year, with complete results, via SMS or email, with full and seamless integration with UpperBee.
You just sent your first survey with the Trustii tool, but you feel like you thrown a bottle into the sea?
In this article, Simon Verville, co-founder of Trustii Technologies, dissects all the steps of the submission process. You will be able to better understand how their processes work and the strength of this tool integrated into the UpperBee suite.
- Sending the invitation:
You have just entered the contact information of your candidate-tenant and you have sent your application.
Your candidate will receive by email or SMS a link to start his rental request. The candidate does not need to download any application. Simply click on the invitation link to access the form, either from a smartphone or computer.
- The questionnaire to be completed:
After validating the form and giving consent, your candidate will have to answer a few questions. This questionnaire will collect the necessary information to profile the candidate as a potential tenant. Here are the different questions that will be asked:
- Confirmation of contact information
- Declaration of identity
- Social Insurance Number: (Optional question: This question makes it easier to access the applicant’s credit file)
- Educational attainment (Optional question: This question is for anonymized statistics only)
- Current Employment Information
- Deposit a pay stub (Optional step: The candidate can upload a pay stub)
- Current employer
- Current owner or current housing situation
- Declaration of previous addresses
- Declaration on pet ownership
- Statement on the number of occupants
- Statement on the number of people who will participate in the payment of rent.
- Income verification and identity validation:
When the questionnaire is completed, Trustii will invite your candidate to authenticate with their banking institution or by ID.
Authentication by financial institution: This method allows the sharing of information contained in the bank account such as verification of cash receipts, account holder information, etc. This process therefore requires your candidate to make a temporary connection to their bank account to allow our technology to read information relevant to their housing application.
Good to know! This method provides a clearer picture of the candidate’s current finances, not just their credit history, which is not necessarily a reflection of their current situation. Moreover, Trustii does not share any other information contained in the bank account in compliance with the Act respecting the protection of personal information in the private sector (P-39.1).
Identification: Trustii will compare the candidate’s declared identity with that of the bank account. Our solution is therefore based on the identity that allowed the opening of the account at the financial institution that requires a presence in person as well as the presentation of two pieces of identification.
Capacity to pay: We review the cash inflows into the account over the past 12 months to determine the percentage of the prospective tenant’s ability to pay for rent.
However, this indicator should be considered in conjunction with the candidate’s pay stub and explanations of the candidate’s sources of income.
Revenue variability: We measure revenue variability over the past 12 months. If revenues vary by more than 20%, Trustii will indicate that revenues are variable.
However, this indicator should be considered in conjunction with the candidate’s pay stub and explanations of the candidate’s sources of income.
Confirmation of the source of direct deposits: We can also confirm if an employer deposits funds by direct deposit into your candidate-tenant’s account.
ID authentication: If you have chosen this authentication method, you will not have access to the features of authentication by banking institution. Instead, your prospective tenant will need to provide valid photo ID and confirm their biometric information by taking a photo of their face to confirm the match with their ID.
- Completion of the form:
Once the authentication of your candidate-tenant is complete, Trustii will generate a comprehensive report with clear indicators to facilitate your decision making regarding the selection of the candidate-tenant. The report will be available in your UpperBee ortal and you will be able to continue with the rental steps, including the automatic generation of the electronic lease directly in the application from the information already entered.
With the integration of Trustii with your UpperBee property management software, you benefit from a unique and powerful solution that allows you to automate all your rental steps and centralize all your management operations.
To learn more about our tool, do not hesitate to write to us at [email protected].
Article in collaboration with our partner
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