, a new Web site that immediately verifies rental history, launched yesterday at the NMHC Annual Meeting in Palm Springs, Calif. The site, developed by multifamily credit agency RentBureau, analyzes rental payment histories to determine if an applicant is suitable as a potential resident.

"[We] created to eliminate the cost and time wasted by former and potential landlords faxing, calling, and waiting for applicant rental verification," said Eric Hartz, RentBureau's president and CEO. "[It's] a fast, accurate and legal way to confirm where an applicant rented in the past and how they paid their rent while living there." is currently using RentBureau's database, which collects rental payment histories every 24 hours. "The resident application process involves a number of cumbersome steps to confirm the rental history of an applicant," said Tom Wilkes, president of Post Apartment Management, a company that tested's beta site. "These administrative tasks are time spent away from the most vital function in the office: leasing apartments and taking care of our residents."

A one-month trial period of the system is $1.99.