Organized rings of fraudsters and other bad actors are using a range of sophisticated deceptive practices to obtain apartment leasing, according to a new survey of more than 400 property management professionals by RealPage.
More than 50% reported seeing diverse types of fake identity, income fraud or approval errors and just 17% currently have a portfolio-wide fraud prevention initiative in place and yet 97% of respondents report that reducing renter fraud is a top priority.
Just 22% have formal metrics for tracking rental fraud and its business impact and 73% say more than half of rental fraud is detected after residents move in.
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