Naborly Opens Tenant Screening AI to Toronto Landlords

January 25th/2016
press@naborly.com

Toronto, ONToday, Naborly Inc., a startup software company specializing in residential tenant screening using artificial intelligence and machine learning, announced that they are expanding early access of their platform to landlords in the Greater Toronto Area. This announcement follows 14 months of research and development in a private beta environment open to enterprise customers (landlords and property managers with 100 or more rental units). Extensive testing has proven that Naborly’s tenant screening algorithm, SHERLY.ai, reduces evictions by 70% and cuts the number of late rent payments by more than 50%.

Regarding the product launch, Naborly’s CEO Dylan Lenz said, “Giving this technology to the general public is going to completely change the rental industry for both landlords and tenants. We realize that a landlord’s greatest fear is a bad tenant, this fear forces good tenants to go through hell just to find a place to live. Our algorithm changes that by identifying high risk tenants more accurately and faster than ever. We’re very excited about the opportunity to improve the renting experience for everyone.”

Before opening to the public, Lenz and his team spent 14 months conducting research and developing Naborly making sure that their screening system was accurately identifying high risk tenants and characteristics, and that their algorithm was not in violation of any Fair Housing and Human Rights legislation.

Naborly was originally founded in 2014 after Lenz experienced the process of having to evict a bad tenant from his own rental property. On the subject Lenz commented, “Naborly was born out of a real need in the market. Even the most experienced landlords fall victim to professional tenants. Evicting my last tenant was one of the most stressful, frustrating, and scary experiences of my life. The process that took 4 months. They knew exactly how to manipulate the rental system to give them more time. Near the end they began threatening me at my home and work. When it was finally over I had lost over $22,000 in unpaid rent, property damages, and legal fees. Naborly finally gives landlords a place to report their bad tenants, and a way to identify the good ones.”