ApproveShield Reviews

Approveshield analysts spend countless hours researching suspicious applications and training on proven fraud cases, which directly benefits the clients as they enjoy some of the lowest lease defaults in the industry. The hard reality is that some apartment prospects will never pass a background check. But that doesn’t mean they will stop trying. More than ever, prospects unequipped to pass a background check on honest terms are trying to circumvent the system. The result has been a significant rise in the use of fake or stolen Social Security numbers (SSN) and fake paystubs, as unqualified prospects try to slip their way through the doors.

Evictions in the ApproveShield database are refreshed daily from local courts, which means Managers and Operators of multifamily real estate can reduce their underwriting risk by more than 80% with a quick search.  ApproveShield currently protects communities in Texas, Atlanta, Florida, South Carolina, and Ohio and is rapidly expanding through the southeast as demand has continued to increase.    

ApproveShield system catches ID fraud, ensuring that applicants are who they claim to be and preventing later problems with non-payment and eviction. To support legal compliance and fairness, process verifies criminal background checks to weed out mismatched records and determine the most recent disposition of cases.  

The statistics certainly tell a concerning story about fraudulent lease applications in the rental industry. In a survey of property management professionals by Entrata, a provider of property management software and other technologies to the rental-housing industry, 55% of respondents said their apartment communities experience fraudulent lease application attempts every few months, with 15% saying they endure multiple attempts every month. Furthermore, 33% of respondents said they are “very concerned” about fraud, and 65% stated they are not confident in their current fraud prevention efforts. Tactics and impacts Lease application fraud tends to fall into two categories: deception intended to improve the tenant’s perceived ability to pay rent and deception intended to hide evidence of past mismanagement of their finances. Attempts to improve the perceived ability to repay generally take the form of falsified employment records, pay stubs, bank statements and other d...