MRI Software Expands Screening Business with Acquisition of Rental History Reports and Trusted Employees 9 Jan 2019

MRI Continues to Grow Multifamily Portfolio, Adds Employment Screening Services

MRI Software LLC, a global leader in real estate software solutions, today announced the acquisition of Rental History Reports and Trusted Employees, a provider of cloud-based applicant screening platforms with business units focused on both the multifamily industry and corporate employers. This addition expands MRI’s existing resident screening offering and introduces a new pre-employment screening service to help corporate employers conduct background checks as part of the new hire process.

Rental History Reports (RHR) was founded in Minnesota in 1994 as a provider of multifamily renter background screening technology. In 2004, the company created its Trusted Employees (TE) business unit to provide corporate employers with background on prospective hires, thus becoming Rental History Reports and Trusted Employees (RHR and TE). Throughout its history, RHR and TE has built its holistic platforms with the goal of streamlining and automating screening processes, a strategy that has resonated in the market to the tune of millions of completed online screenings for its clients.

“We’re proud to continue leading the charge for flexibility and choice in real estate software solutions,” said David Carner, Senior Vice President for Residential Solutions, MRI Software. “The addition of Rental History Reports represents another step forward for MRI’s resident and prospect engagement solution, complementing our existing Resident Check screening service with one well suited for small and medium businesses. Additionally, the Trusted Employees offering brings a comprehensive employment screening solution to MRI’s commercial and corporate occupier clients.”

Rental History Reports’ resident screening services for multifamily property owners and managers include credit history, criminal history, eviction history, employment verification and rental references reports. Trusted Employees leverages the company’s core competencies to provide criminal records history, credit background check, and employment, reference and education verification – all customized for industry, business type and position. Critically, the platform’s flexible APIs allow users to integrate information directly from their applicant tracking system of choice.

“MRI is in a period of impressive growth and we’re proud to be part of the momentum,” said Steve Gustafson, Chief Executive Officer, Rental History Reports and Trusted Employees. “We’re confident that the time-tested solutions we’ve built at Resident History Reports and Trusted Employees will secure MRI’s position as the gold standard in holistic screening solutions for multifamily properties and corporate employers. RHR and TE clients will benefit from a broader range of solutions and increased innovation and resources from a global organization of MRI’s size and scale.”

RHR and TE will continue to serve its clients without interruption and remains committed to providing and supporting solutions for all organizations, regardless of their property management software. MRI remains committed to providing choice and flexibility for its clients through an open and connected ecosystem. MRI’s Partner Connect program includes three screening partners, and the addition of RHR gives MRI clients even more freedom to choose the right screening solution for their needs.

Kirkland & Ellis LLP acted as MRI Software’s legal counsel for the transaction. Vista Point Advisors, a boutique technology-focused investment bank, acted as the exclusive financial advisor to Rental History Reports and Trusted Employees.

About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

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Chet Murray
LEWIS
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