Rent Butter is a Chicago-based tenant screening solution designed specifically for workforce and affordable housing. The company recently raised $3 million in seed funding, led by RET Ventures. The funds will be used to expand the company's product offering and customer base into conventional Class A and B multifamily and single-family rentals in 2023.
Founded in 2021 by Chris Rankin and Tom Raleigh, Rent Butter was created to help multifamily property owners assess risk when screening potential tenants. The company's digital application provides owners with banking and credit behavior reports, instantly validates important identification documents, and integrates with existing CRMs. Rent Butter also helps reduce eviction and turnover at multifamily properties by validating important documents like applicant IDs, employment, and income in real-time to protect owners against fraud. Since its founding, Rent Butter has seen significant traction. The company's solution is currently being used by properties comprising more than 100,000 residential units.
The platform uses a variety of data sources, including banking and credit behavior reports, to provide property owners with a comprehensive view of a potential tenant's financial history. The platform also validates important identification documents in real-time to protect property owners against fraud. It integrates with existing CRMs, making it easy for property owners to manage their tenant screening process. Rent Butter's platform has helped property owners reduce eviction and turnover rates, saving them money and time.
Rent Butter is a valuable tool for multifamily property owners who are looking to improve their tenant screening process. The platform's comprehensive data and fraud protection features can help property owners make more informed decisions about who to rent to, and ultimately reduce their risk.
