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Income verification startup The Closing Docs helps property …

The Closing Docs co-founders Stephen Arifin (left) and Mark Fiebig. (Closing Docs Photos)

The pandemic is causing a lot of stress for both renters and landlords. The Closing Docs wants to help.

The Seattle startup sells income verification software to property managers, helping them get a better understanding of their tenant’s capacity to pay rent. The company is seeing demand amid the economic crisis.

“Because we offer instant access to up-to-the-minute income history, we are not only supporting applicant approval decisions and existing tenant renewal considerations, we are also giving property managers and tenants a tool to objectively communicate about current income status,” said Mark Fiebig, co-founder of The Closing Docs. “Our data provided to both parties supports these negotiations in constructive ways.”

The startup’s software connects to an applicant’s bank account to analyze their deposit history, and organizes the data into an income report. It offers its own standalone income screening service; the data can also be embedded into an online rental application.

The 3-year-old company supports more than 700,000 units managed by landlords, and also provides income verification to lenders offering loans to buyers of vehicles.

Fiebig, a serial entrepreneur and investment property manager, launched The Closing Docs in 2017 with Stephen Arifin, a former engineer at Microsoft. The company is part of a growing cadre of fintech startups in the Seattle region. We caught up with the founders to learn more about The Closing Docs for this edition of Startup Spotlight.