Let's dive right in! You understand the importance of a robust screening process to find the ideal renter for your investment property. And you're seeking the best platform for this task. In this post, we'll compare Clara & TurboTenant - their offerings, costs, and which one is better suited for your rental business.
What is Clara?
Clara is a digital rental application and screening platform that provides a seamless experience for both renters and landlords. It collects, consolidates, and secures application information to help renters find their ideal homes and landlords find their ideal renters.
For landlords like yourself, Clara provides access to a pool of highly qualified and verified renters, removes the risk of fraudulent applications, and helps you find their perfect renter.
What is TurboTenant?
TurboTenant is a property management software that serves as a one-stop solution for property owners and landlords. Their innovative platform streamlines the rental process, making it easier and more efficient. It eliminates the complexities often associated with property management by providing a suite of tools that assist in everything from tenant screening to online rent collection.
What can Clara do?
- Digital Rental Application: Clara allows you to create and share an online application with potential renters. Renters create a profile with details about previous and current rental history, previous and current employment, references, lease preferences, and more. Applications are Fair Housing Compliant and ensure you follow a consistent and fair process.
- Identity and Income Verification: Clara partners with Plaid, an advanced security and encryption tool, to verify identification documents, phone numbers, name, date of birth, ID numbers, and more. With Plaid's income verification, you can easily access employer and gross and net income data via payroll providers and documents like pay stubs, W2s, and 1099s.
- Credit History: Clara provides a TransUnion credit report summary that includes a renter's credit score, total credit lines, collections, and more.
- Background Checks: Clara conducts an eviction search, looking for past court actions, unlawful detainers, monetary judgements as well as an extensive criminal history search that searches through more than 200 million records, both at the national and state level. Each background check searches for felonies, sex offenses, wants & warrants, and more.
- Renter Friendly Process: Clara creates a seamless and secure user experience for renters that provides more consumer transparency and control.
What can TurboTenant do?
- Landlord Tools: TurboTenant offers a comprehensive suite of tools for landlords, including free rental advertising across major sites, online rental applications, detailed tenant screening reports, customizable state-specific lease agreements, professional rent collection, integrated accounting, and maintenance request management.
- Additional Tools: The platform also provides e-signatures, condition reports, and tenant communication tools.
- Compliant Software: Additionally, TurboTenant ensures compliance with state laws and supports automated reminders for rent payments and maintenance tasks, making property management efficient and streamlined.
Clara vs. TurboTenant: Pricing
- Clara is free for landlords, renters pay a $45 fee that covers the screening verification and reports.
- TurboTenant has a free plan for landlords, with renters paying a $55 fee that covers the screening reports. Their premium plan is $119 a year and includes priority listing reviews, income insights for tenant verification, lower application fees, custom questions for applications, unlimited lease agreement and addendums, unlimited e-signatures and more.
Clara vs. TurboTenant: Which is right for your rental business?
Before selecting a screening platform for your rentals, it is essential to research and compare the available options. While both of these services are reputable, Clara offers additional benefits with a full digital application and verified income data. By familiarizing yourself with the features and details of these companies, you can make an informed decision that not only saves you money but also benefits your rental business in the long run.
