ApproveShield Reviews

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. “Renter fraud was already on the rise prior to the pandemic, but the increased adoption of agentless touring and leasing tools, which allow residents to find and rent an apartment with zero in-person interaction, has opened the door for even more fraud,” says Alec Page, vice president at Park City, Utah–based RET Ventures, an early-stage venture fund that invests in multifamily technology firms. This is where ApproveShield steps in with their solution that combines Machine Learning with experienced Analysts that are trained to not only spot fraud attempts, but also bring a human elemen...

A number of tenant scams happen regularly, victimizing landlords who do not have effective procedures in place for screening renters, collecting rents, and writing the right contract. These scams can pose a great risk to the business. 1. False Prior Rental Verifications The most common tenant scam we find is false prior rental verifications. Someone will answer the phone as the landlord of a property they either did not live in or was not really the actual landlord of the property they live in. We at Approveshield will verify rental history using proven methods that minimize chance of fraud 2. Tenants Doing Things to Reset the Eviction Process One of the most common tenant scams is when a tenant pays partial rent, perhaps $50 or $100, when they owe significantly more and are in the eviction process. By accepting their payment you are resetting the clock on the eviction and you’re being forced to start the entire eviction from scratch. Another scam is when former tenants who h...

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. Apartment operators are clamoring to counter the escalating trend by educating their teams on the potential warning signs and implementing tech tools that can help diagnose fraudulent activity on applications. While fake or altered Social Security numbers can be tricky for fraud offenders to utilize in the long-term because they are a government-issued entity, fake paystubs can be easier to get away with. Searching online for “Fake Paystubs” brings an unsettling scene. Several websites will promise fake stubs within minutes. While maybe not as ext...

  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. Apartment operators are clamoring to counter the escalating trend by educating their teams on the potential warning signs and implementing tech tools that can help diagnose fraudulent activity on applications. While fake or altered Social Security numbers can be tricky for fraud offenders to utilize in the long-term because they are a government-issued entity, fake paystubs can be easier to get away with. Searching online for “Fake Paystubs” brings an unsettling scene. Several websites will promise fake stubs within minutes. While maybe not as e...

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 documents that create an inflated picture of the applicant’s cashflow and the assets available to pay rent — even if they suffer a financial setback. It’s worth noting that the same technology advances that drive the digital revolution also make it much easier to commit this type of fraud. Even the most basic home computer can provide ample functionality to capture and re-use digital images, or to scan and edit documents. As software continues to emphasize ease-of-use, more and more tenants will be able to act on the temptation to engage in this type of behavior. Hiding evidence of past financial mismanagement is a form of ident...

The most common tenant scam we find is false prior rental verifications. Someone will answer the phone as the landlord of a property they either did not live in or was not really the actual landlord of the property they live in. We at Approveshield will verify rental history using proven methods that minimize chance of fraud.

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.