For many consumers, the credit reporting industry is key to achieving important milestones — including buying a car, getting a job, and leasing a home. And when it comes to renting an apartment, property managers typically prefer applicants with a record of paying rent on time (even if they’ve made a few late payments on their credit card bills). But what about new renters or renters who are looking to build or rebuild their credit history? Thanks to a new collaboration between Yardi and Experian RentBureau, rent payments can now be used to build credit history. Yardi has worked with Experian RentBureau to launch an interface that helps renters build credit history by having their rental payments reported to Experian RentBureau. “We are on a mission to broaden opportunities for consumers to gain access to the credit marketplace,” said Emily Christiansen, director of Experian RentBureau. “By working with Yardi, we are significantly expanding the number of consumers who can benefit from having their rental payments reported, which can make a real impact in the daily lives of renters nationwide.” In addition to the benefits for consumers, property managers who furnish rental payment history data to Experian RentBureau gain enhanced protection from lease skips, a faster debt-recovery process and more residents paying rent in a timely manner. Yardi clients simply sign up with Experian RentBureau to have their rental payment history data reported automatically from Yardi Voyager®. “We are dedicated to continually improving our platforms and services to further meet the evolving needs of our clients,” said Patrick Hennessey, vice president and general manager of Resident Screening at Yardi. “Adding the capability to report valuable rental payment data to Experian RentBureau through a seamless process will help our clients manage their portfolios more efficiently and enhance...

Think your landlord insurance is enough? Think again. Recent studies examined renters insurance practices at property management companies throughout the Unites States. Those reports suggest that 45 percent of property managers do not offer insurance to their tenants. Only 25 percent of property managers require their renters to purchase insurance at every property in their portfolio. Of the properties that do require renters insurance, The National MultiHousing Council’s Apartment Cost Risk Survey suggests that only 25 percent had a consistent standard for each property within a state. As a property manager, a lack of coverage and inconsistencies within coverage requirements will leave you vulnerable. By making renters’ insurance compulsory at each and every property, you can minimize costly risks–saving nearly 80 percent in repairs on renter-caused damages! Renters insurance supplements some often overlooked (or inadequately covered) areas in your landlord insurance policies including: flood earthquake residents’ housing after a disaster, while the property is being repaired lost rent while tenants are away during repairs tenants’ high-cost valuables guest accidents and injuries ResidentShield provides renters with the coverage that they need to rebuild their lives after a disaster or take care of a guest who sustains injuries while visiting the unit. This coverage can provide peace of mind for your residents while limiting your costs and liability. If you’re not currently requiring renters insurance, the next natural question may be, “Where do I start?” A gradual transition is essential for maintaining renter satisfaction while increasing your protection. Most property management companies phase the insurance requirement into existing leases as they are renewed. The increased costs will undoubtedly raise concern with some renters. One way to ease the transition is to offer options to your tenants. Some property managers may allow renters to choose their own prepaid policy rather...