Yes, Livble has an application process that uses proprietary underwriting criteria to determine your eligibility. Here’s a breakdown of how the application process works and what factors are considered.
What We Evaluate in Your Application
Livble’s underwriting process assesses a range of factors to ensure you’re eligible to use our service. These factors include, but are not limited to:
Cash Flow: Your financial situation and ability to manage rent payments based on your income and historical cash balances.
Spending Patterns: We review your spending habits and budgeting practices to ensure you can meet rent obligations.
Resident Portal Data: Information from your resident portal, such as late fees, past payment behavior, and current rent balances, is taken into account.
Identity Verification: Livble verifies your identity to ensure safe and secure transactions.
Note: Livble does not rely on your credit score as part of the underwriting process. Instead, your approval is based on a comprehensive evaluation of the factors listed above.
For the best chances of eligibility, we recommend linking your primary bank account where you receive your payroll.
Re-Assessing Eligibility (Re-Underwriting)
Livble re-assesses your eligibility on a recurring monthly basis. After successfully completing your repayment plan for the current month, Livble will perform a re-assessment to determine if you qualify for the upcoming month.
Important Note: If you have received a late fee from your landlord, whether from a past or present month, you will not be eligible to split rent with Livble.
Why This Matters
Livble’s recurring eligibility checks help ensure that your financial situation is still aligned with our criteria. This allows you to continue benefiting from flexible rent payments as long as you meet the required factors.