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 docu
Founded in Dallas, Texas in 2015, ApproveShield has become the only direct to market source of immediate eviction and consumer rental verification data in the Multifamily.