This summer, Alcove added three new renter screening features in our application process 1) On-platform rental references, 2) Income and employment verification, 3) New background check integration with Asurint (provided through our screening partner, TransUnion).
One of the greatest risks to the returns on your rental property is the safety and financial reliability of your tenants. Our platform is designed with an integrated application process that gives landlords control over tenant selection, allowing you to view a complete profile of your applicants within minutes.
For your tenants, this process is simple, has no impact on their credit report, and can be completed directly from your listing page. With these improvements, all Alcove applicants will now undergo a new comprehensive screening process. The following reports are now delivered to Landlords:
- TransUnion Credit Check
- TransUnion Identity Verification
- TransUnion Eviction Checks
- Asurint Criminal & Background Check
- On-Platform Rental References*
- On-Platform Income and Employment Verification*
Background Check by Asurint:
As part of a platform-wide screening upgrade, we are transitioning to Asurint as our background check provider. Although reports are still delivered via TransUnion, the criminal and background check data will now be provided direclty by Asurint.
Asurint’s system automatically applies federal, state, and local filters to meet consumer protection and housing regulations, ensuring our landlords and property managers receive highest-quality data.
This upgrade offers expanded coverage, including background checks on applicant aliases, sanctions, abuse registries, and more. This process aligns with the stringent checks typically found in pre-employment and public health sectors.
On-Platform Income & Employment Verification:
Our leasing team now collects income and employment documents and information for all applicants directly on the Alcove platform. This eliminates the need for you to request these documents separately and ensures comprehensive documentation and employer contacts are gathered efficiently.
If additional information is required, tenants are allowed to submit one edited submission only (to prevent fraud). After an applicant resubmits an edited income or employment document, the landlord will be able to view both the edited and previous versions.
How It Works:
For Primary Income from Employers:
- Applicants can submit up to 3 income sources.
- Each primary income must include employer contact information for verification.
- At least one form of paystub, employment agreement, or offer letter is required.
- If no income is provided, our leasing team will request a guarantor on your behalf or ask for additional proof of significant liquid assets.
For Additional Income:
- Applicants can submit up to 3 additional income sources.
- Each additional income source must be supported by at least one proof of income document.
For Liquid Assets:
- Applicants can submit up to 3 savings, checking, or investment accounts.
- Alcove requires 2 bank statements. The balance amounts will be averaged across the submitted balances to account for any short-term fluctuations.
On-Platform Rental References:
All applicants are now required to provide up to 3 prior landlord references, with at least 1 being required. If no references are available, such as for first-time renters, applicants must provide a reason.
During the reference process, Alcove collects 1) Landlord Name, 2) Landlord Contact Information (Phone and/or Email), 3) Previous Rent Amount, 4) Reason for Move-Out.
*Please note that Alcove’s tools are designed to assist but not replace Landlord due diligence. For more details, visit: What to Ask During a Rental Verification and Income and Employment Verification on Alcove..
Data Security & Privacy:
Data security is a top priority at Alcove. Our applicants submit their social security and identity information directly to TransUnion, ensuring that sensitive information, such as social security numbers, does not have to be handled by landlords or property managers.
With Alcove’s integration, sensitive SSN and Identity data remains exclusively between the potential tenant and TransUnion — a credit reporting company that securely manages data for nearly 500 million people worldwide. Additionally, all applicants are required to verify their identity online or over the phone with TransUnion, helping to prevent fraudulent tenants.
Focus on acquisition, not management
Here at Alcove, we’re committed to developing next-generation operating system features that save you time on shared housing management, allowing you to focus on expanding your portfolio and delivering great rental experiences to your tenants.
These new screening features are part of our ongoing commitment to providing you with the best tools and data for shared housing rentals, enabling you to rapidly make informed decisions about your roommate tenants.
To view your new applicants, visit your Leases & Tenants page.
