How PropTx and Cove came together to put verified rentals in agents' hands
Renting a home had come to rest on paper that anyone can edit. PropTx wanted something better for the REALTOR® community it serves, and found it in Cove, a Canadian team that verifies applicants at the source. PropTx Verify is the result.
The problem
A rental decision rested on paper
An applicant hands over a pay stub, an employment letter and a bank statement, and the agent is asked to stand behind them. Each of those is a file that can be edited. Fake credit reports, bank statements, pay stubs and employment letters have made tenant fraud easier than ever.
Honest applicants paid for it too. A newcomer, a young renter or anyone with a short credit history could look weaker on paper than they really are, and a reference check meant leaving messages and waiting.
On paper: A pay stub or an employment letter
At the source: Employer, job title, start date and pay, from the payroll provider
Employment verification
On paper: A bank statement saved as a PDF
At the source: Deposits, balances and cash flow, read from the connected bank
Income and bank verification
On paper: A photo of an ID
At the source: Both sides of the ID, three live selfies and a face match
Identity verification
On paper: A phone number for a past landlord
At the source: A reference request answered by the landlord, and calls from Alex
Landlord references
On paper: A printed credit report
At the source: A soft credit check, with no impact on the applicant's score
Credit check
PropTx
PropTx looked for a better way for its members
PropTx Innovations builds technology for REALTORS®. It is the home of an MLS® platform designed around REALTOR® needs, and its mission is to help REALTORS® grow their businesses and give their clients excellent service.
Agents were being asked to vouch for applicants they had no way to check. PropTx wanted a tool that would verify an applicant at the source and live inside the dashboard its members already use: one familiar place to order a report and read it. That choice was made for the community, and it shaped everything that followed.
“This launch is about more than technology. It’s about reinforcing REALTORS® as the central point of trust in the rental process.”
Cove
Cove built verification from the source
Cove is a Canadian verification and KYC workflow platform. It works with financial institutions, insurers and professionals, and it confirms the payroll, banking and identity records that a traditional credit file leaves out.
That is harder than reading a document. A verified pay record means connecting to the payroll provider itself. A verified balance means a secure link to the applicant's bank. A verified identity means showing the person holding the card is the person applying, live, in front of the camera. Cove did that work so an agent doesn't have to.
Payroll, from the provider
The applicant signs in to their payroll provider, and the employer, job title, start date and pay come from the record itself.
Who pays you?
Secure connection
Income, from the bank
Deposits are read from the account the pay goes into and sorted by source, with monthly balances, cash flow and every paycheque listed.
Select your institution
Secure connection
Identity, proven live
Both sides of the ID and three selfies. The selfie is matched to the ID photo and checked for a live person rather than a photo of a photo.
Face Match
Passed
ID photo
Selfie
References, collected
Previous landlords are contacted and verified automatically, and their answers land in the report.
To Priya Natarajan
Tenant reference request for TIM BROOK
Please provide a reference for your past tenant, TIM BROOK
Secure linkAlex, the voice assistant
Alex calls employers and previous landlords to confirm employment, income, job title and tenancy history, any time, day or night.
Chat with Report
Every report comes with an assistant that has already read all of it. Ask about an applicant in plain English, or compare applicants.
Does the income cover the rent?
Yes. Rent is 9% of verified monthly income, paid on the same date every month.
When one source can't be connected, the other fills in: payroll covers a missing bank connection, and the bank covers missing payroll. Documents uploaded by hand still go through fraud detection.
Together
PropTx Verify, in agents' hands
On September 24, 2025, PropTx announced its partnership with Cove to launch PropTx Verify. REALTORS® open it from their PropTx dashboard. Reports are delivered through the PropTx platform, so an applicant's pay records and ID aren't emailed around to several inboxes, and the applicant keeps control over how their verified report is shared.
Stage 1
Paper
Pay stubs, letters and statements, taken on trust.
Stage 2
The search
PropTx looks for verification its members can rely on.
Stage 3
The build
Cove brings payroll, bank, identity, references and Alex into one report.
September 24, 2025
The launch
PropTx announces PropTx Verify, powered by Cove.
Today
In the dashboard
Agents verify applicants at the source, in one report.
79,323+Active REALTOR®s
Page one of a report: the score, the applicant and the checks behind them, verified at the source. Specimen data.
Tenant report
PTV-2026-048217 · Unit 1204 · Toronto, ON
2:14 p.m.
Jordan Avery
Applied Oct 21 · Rent $2,450 / month
- PropTx Score
- 97Excellent
- Credit score
- 778Great·
- Rent to gross income
- 9%Great
- Monthly debt
- $613Low
- IdentityGovernment ID and selfie matchPass
- IncomePayroll deposits read from the bankVerifiedBiweekly · 6 months
- EmploymentConfirmed with the employerVerified· 3 yrs 4 mos
- Landlord referenceRated by the previous two landlords4.8
- Tribunal recordsLandlord and Tenant Board filingsNone found
97%
Face match
ID photo · selfie
What it means
Fairer, faster, verified rentals
Every report has people on each side of a lease, and an agent standing between them. Here is what changes for each of them.
For landlords
A decision made on verified income, employment, identity and records, instead of documents that may have been edited.
For tenants
A faster, fairer process. An applicant with a short credit history can show steady pay and rent paid on time, straight from their own accounts.
For REALTORS®
A professional tool to guide clients on both sides of the lease, from the dashboard they already use.
“Landlords gain confidence, tenants gain protection, and REALTORS® deliver a higher standard of data and insights.”
What we believe
Verify the source, not the paper.
A payroll record, a bank connection and a live selfie can't be edited the way a PDF can.
A short credit file isn't a bad one.
Steady pay and rent paid on time count, even when the credit history is new.
The applicant's data is theirs to share.
Reports travel through the platform, not through inboxes, and the applicant decides who sees theirs.
The decision stays with you.
The report sets out what was verified and where it came from. The call is yours.
Verify your next applicant at the source
Credits are only deducted after a report is complete. No upfront charges.