Here at Inhabit, we're dedicated to going above and beyond to meet our clients' needs. When they face challenges that call for a solution with new features, we assess ways to solve their needs through building new solutions or partnering with companies that are experts in those areas. By teaming up, we're able to provide even more comprehensive solutions that exceed our clients' expectations. 🛡️ A prime example of this type of collaboration is our partnership with Snappt, the leading authority in document fraud detection for residential apartment property managers. Their cutting-edge technology now seamlessly integrates into software solutions offered by ResMan Property Management Software and ResidentIQ’s TenantTech, two of our business units at Inhabit. Using #PropTech to reduce application fraud is critical. According to a recent National Multifamily Housing Council (NMHC) Pulse Survey, fraud is on the rise: 93% of respondents reported experiencing fraud in the past 12 months. The survey was conducted from November 15, 2023, to January 9, 2024, with responses from NMHC and National Apartment Association (Naahq) members representing PMCs, apartment owners, and developers. If you are not already using fraud detection technology in your tech stack, now is the time. For more information on fraud detection solutions for the residential multifamily market, visit https://lnkd.in/e24r2WwF #Inhabit #CustomerService #FraudDetection #PropertyManagement #multifamily
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Fraud is becoming a bigger problem every day. We have a suite of solutions to help you prevent fraudulent leasing and deal with the aftermath.
Here at Inhabit, we're dedicated to going above and beyond to meet our clients' needs. When they face challenges that call for a solution with new features, we assess ways to solve their needs through building new solutions or partnering with companies that are experts in those areas. By teaming up, we're able to provide even more comprehensive solutions that exceed our clients' expectations. 🛡️ A prime example of this type of collaboration is our partnership with Snappt, the leading authority in document fraud detection for residential apartment property managers. Their cutting-edge technology now seamlessly integrates into software solutions offered by ResMan Property Management Software and ResidentIQ’s TenantTech, two of our business units at Inhabit. Using #PropTech to reduce application fraud is critical. According to a recent National Multifamily Housing Council (NMHC) Pulse Survey, fraud is on the rise: 93% of respondents reported experiencing fraud in the past 12 months. The survey was conducted from November 15, 2023, to January 9, 2024, with responses from NMHC and National Apartment Association (Naahq) members representing PMCs, apartment owners, and developers. If you are not already using fraud detection technology in your tech stack, now is the time. For more information on fraud detection solutions for the residential multifamily market, visit https://lnkd.in/e24r2WwF #Inhabit #CustomerService #FraudDetection #PropertyManagement #multifamily
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The National Multifamily Housing Council conducted a survey from November 15, 2023 to January 9, 2024 representing 75 leading apartment owners, developers, and managers. Respondents noticed an increase of fraudulent applications and payments of 40.4% average increase in the past 12 months compared to the previous 12 months. This survey truly highlights the increase of rental application, financial, and identity fraud throughout the multifamily industry. Emphasizing the importance of technology in your residential properties. ResidentIQ® is helping create a fraud-free community with software for resident screening, employment screening, lease compliance, and more! Download Full Survey Results: https://lnkd.in/gsM2Rz7Y #propertymanager #multifamily #proptech #residential #NMHC *image credit: National Multifamily Housing Council
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Landlords... It pays to be vigilant and diligent. An analysis of over 600,000 tenancy applications has found that fraudulent applications rose by 140% last year. The analysis, carried out by PropTech supplier Goodlord, found that payslip fraud was the most common way tenants try to trick referencing systems. To carry out the analysis, a sample size of more than 300,000 tenancy applications from 2022 was compared with more than 300,000 applications from 2023. The data shows that, in 2022, just over one case of fraud (1.2) was picked up for every 1,000 applications. In 2023, this rose to 2.9 cases in every 1,000 - a rise of 140% year on year. JMH Lettings will carry out this due diligence as part of our monthly managed service.
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Multifamily Dive recently shared some pretty shocking data on the rise in Rental Fraud... "Falsified applications have reduced income or increased expenses by at least 10% for most operators." ✅ THE GOOD NEWS: According to a third party study we hired Forrester Consulting to contact, companies saw a 40% reduction in revenue loss from fraud after partnering with Entrata (if you're curious I'll send you the study). #multifamily #propertymanagement #proptech Virginia Love
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Landlords are facing challenges due to Rental Application Fraud, according to a recent survey by the National Multifamily Housing Council. The study highlights a notable increase of 40.4% in deceptive tenant applications compared to the previous year. Common forms of fraud include fake pay stubs and misrepresented information. Hotspots for fraudulent activity include Atlanta, Texas, and Florida. The financial impact is substantial, with landlords having to write off an average of $4.2 million in bad debt, attributing 25% to nonpayment resulting from fraud. Additionally, the eviction moratorium during the Covid pandemic contributed to 73% of nonpayment. Bio: https://lnkd.in/gJihJmJ9 Google Business Page: https://lnkd.in/g95RaEWn YouTube: https://lnkd.in/gMXqxPVJ Instagram: https://lnkd.in/gkHKXrTD Facebook: https://lnkd.in/gBk5DKTd Twitter: https://lnkd.in/g4f-8_aJ TikTok: https://lnkd.in/gBxGEgDx #PugetSound #TenantRepresentation #LandlordRepresentation #SIOR #CCIM #IAMC #NAIOP #CRE #CommercialRealEstate #IndustrialRealEstate #Industrial #Logistics #Manufacturing #Warehouse #Seattle #Tacoma #KidderMathews #Kidder #SupplyChain #CommercialLand #WarehouseSpace #Warehouse #KingCounty #PierceCounty #ThurstonCounty #Seattle #Tacoma #RealEstate #SupplyChainManagement
Rental Application Fraud Costs Landlords Millions | GlobeSt
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Local knowledge is crucial to deploy capital strategically!
Rental Housing Economist (Apartments, SFR), Speaker and Author
One of the most consistently challenging markets I hear about from apartment owners and operators right now: Atlanta. And here's why: The Atlanta metro area remains one of very few markets nationally -- and the only major Sun Belt market -- where rent collections remain stubbornly low. When we compare Atlanta to the nearby major Florida markets (see chart), we see collections have rebounded to the 95-96% range across Florida, while dropping below 91% in Atlanta. What's going on in Atlanta? Atlanta is the No. 1 market nationally for leasing fraud, according to a recent NMHC survey of U.S. apartment operators. It's also one of the few major markets where evictions can still take around a year (if not longer) due to a backlog that doesn't separate clear fraud from true need -- allowing fraudsters to live rent-free using stolen identities for extended periods of time before ultimately moving out before the judicial process catches up. There are, of course, cases of legitimate renter distress, too, and that should not be ignored. But it appears the Atlanta challenges are deeper than that. Will these challenges impact the capital deployment strategies going forward? Would love any thoughts. Atlanta otherwise remains an attractive market given favorable economics and demographics. #multifamily #Atlanta #Florida
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Hot topic! Interested to hear SingleKey's perspective on rental scams and Tenant fraud and how Landlords can protect themselves. We're seeing more and more instances of attempted Tenant fraud, mostly from Applicants submitting slightly altered or vague supporting documents. It's getting to the point where every Landlord should utilize today's technology in their Tenant screening process.
Canada's tightening rental market is fueling a surge in rental scams and tenant fraud. In today's digital age, document manipulation, especially credit scores, has become alarmingly easy.✅ Join SingleKey's MacKenzie Wilson, Logan Z., and eviction specialist Donald Gray at our Fraud Prevention Webinar next Wednesday at 12pm E.T. Sign up today by clicking the link below! 📝 https://lnkd.in/dAi_eDQn #webinar #fraud #freeevent #connect #eviction
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Husband and father, cultivator of lasting relationships, advocate for affordable housing via landlord grassroots education, craft beers & open dialogue.
I am very excited about this deep-dive webinar on how to identify and avoid fake documents, eTransfer confirmation emails, and fraudulent service animal or guide dog certification. https://lnkd.in/dAi_eDQn I have done a ton of research and assembled a great panel to help educate landlords and homeowners in theme with March Fraud Awareness Month. What we will cover: - **Fake Documents** - What they look like & 8 tips to spot them - 3 Real Examples Caught by the SingleKey Team - png vs jpg vs pdf - Which is better & why - **eTransfer Confirmation Emails** - Real Examples - Poor quality vs high qualify fake eTransfer - PRO-TIP: How to verify an eTransfer confirmation email every time - **Service/Guide Dog vs Emotional Support Dog - What to know as a Landlord - Legislation by Province - BC - AB - ON - Duty to Accommodate VS Undue Hardship - How this applies to viewings/showings & Leases - Certification - By Province & Accredited School(s) - ID Cards & Sample #fraud #fakedocuments #scams #rentals #landlords #propertymanagers #duediligence
Canada's tightening rental market is fueling a surge in rental scams and tenant fraud. In today's digital age, document manipulation, especially credit scores, has become alarmingly easy.✅ Join SingleKey's MacKenzie Wilson, Logan Z., and eviction specialist Donald Gray at our Fraud Prevention Webinar next Wednesday at 12pm E.T. Sign up today by clicking the link below! 📝 https://lnkd.in/dAi_eDQn #webinar #fraud #freeevent #connect #eviction
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The recent NMHC Pulse Survey highlights a concerning rise in rental application fraud and bad debt across the multifamily housing sector. Conducted from November 15, 2023, to January 9, 2024, with participation from 75 leading apartment owners, developers, and managers, the survey reveals alarming trends, including a significant portion of eviction filings stemming from fraudulent applications. This pressing issue demands our attention and collective action to safeguard the integrity of rental transactions and protect both property owners and legitimate tenants. For a detailed analysis, visit the full report. >https://lnkd.in/gsM2Rz7Y
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Thanks to Fifth Wall and Philip Chen for their discussion of the impact of fraud on the real estate industry. Creating safe, resilient, cost-effective communities is top of mind every day here at VERO. Fraud doesn't just impact investors and landlords -- it impacts every resident and prospective resident by driving up costs unnecessarily and creating undue burden for all parties in the relationship. Using proven technology to augment the expertise of the amazing people already operating in the housing industry will help make homes more accessible for all current and future residents. Everyone deserves a safe place to call home -- let's build better communities together through the confluence of data and human expertise.
Over 70% of major apartment owners have seen a rise in applicant fraud in the past year, where would-be renters use fake documents to be accepted into buildings. It can take a long time to get a non-paying or disruptive tenant out of their apartment, so it's important for owners to stop fraud at the source. Technology like Fifth Wall portfolio company VERO could help stop fraud. 🎥 Video featuring Fifth Wall Investor Philip Chen 📚 Survey by the National Multifamily Housing Council and National Apartment Association (Naahq): https://lnkd.in/gsM2Rz7Y #realestate #multifamily
Insights for Property Managers | 🏆 LinkedIn Top Voice | Synthetic Fraud Detection
3moCongrats on the partnership and integration. It's so true that now is the time for landlords and PMs to implement fraud solutions to combat this threat to their business as much as possible. They need this as early in their leasing process as possible.