VERO Reduces Delinquency & Evictions to 0% for RKW Residential

When RKW Residential came to VERO, it faced ongoing inefficiencies in its leasing process. Despite efforts to streamline approvals and multiple “solutions,” inconsistencies in application data collection caused delays and created gaps in decision-making. These operational issues led to longer vacancy periods and, more importantly, an increasing number of evictions. Even with a steady flow of applicants, unqualified renters still slipped through, putting properties at unnecessary risk and financial strain. RKW needed a solution that not only sped up approvals but also ensured their teams had access to complete and accurate applicant data, without adding an extra burden to staff.

Challenges

Approving Applicants is Time-consuming. Before VERO, verifications took up to 48 hours to complete, allowing unqualified renters to slip through, which caused an increasing number of evictions and a growing delinquency rate.

Multiple Point Solutions-RKW operated two point solutions in conjunction with their PMS (RealPage). Conflicting results and additional staff overhead contributed to the acceptance of unqualified renters.

Key Wins

By partnering with VERO, the property reduced its overall lead-to-lease time by 52% (down to under 24 hours). Operational risk decreased significantly, with a 100% reduction in delinquency, resulting in zero evictions, as well as an improvement in operational efficiency through a singular solution responsible for all applicant verification and screening.

“Overall, the VERO to applicant relationship streamlines the entire verification process, making it quick and hassle-free while ensuring thorough and accurate income verification. It's a win-win for both applicants seeking a smooth application process and our community aiming for efficient and reliable resident income verification.”

VERO Benefits

Accelerated Lead-to-Lease Time

Since the VERO implementation, the property has experienced faster and more accurate screening decisions, resulting in quicker and more confident leasing decisions.

Easy Integration with PMS

VERO enabled integration with the property’s PMS, saving time and reducing redundancies, while addressing the elements of the leasing process that needed improvement.

Trustworthy Collection of Applicant Information

By integrating identity, employment, bank account, and credit data, VERO’s Lumen recommendation engine accurately predicts an applicant’s ability to pay rent on time. The results show VERO works.