TENANT SCREENING AND AI: ALLIES IN FIGHTING FRAUD There has been an alarming increase in illegal identity theft and fraudulent rental applications. Scammers simply go online to create misleading social security numbers, doctored pay stubs and false credit reports in order to deceive landlords and property managers. According to the Pulse Survey on fraud
trusting landlords who fail to implement the right procedures for screening renters, writing contracts and collecting payments. Although scams come in different forms, some of the most common methods are submitting false employment records, faking credit reports, forging checks and pay stubs and hiding property damages to their former rentals. These scams cost landlords valuable time and risk to their incomes and businesses.
conducted by the National Multifamily Housing Council (NMHC) and released last year, 93.3% of respondents reported that they had experienced fraud in the prior 12 months! How can this be? A surprising number of rental property owners ignore the modern screening techniques available to them and continue to “trust their gut” when considering a potential tenant. Tenant scammers take advantage of
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