{"id":37452,"date":"2024-02-20T03:05:00","date_gmt":"2024-02-20T11:05:00","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=37452"},"modified":"2026-02-19T15:01:19","modified_gmt":"2026-02-19T23:01:19","slug":"deter-fraud-with-technology","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/deter-fraud-with-technology\/","title":{"rendered":"Prevent Fraud + Bad Debt"},"content":{"rendered":"\n

The multifamily industry has long since been a lucrative target for fraudsters, and recent years have only made it worse. While online leasing has streamlined the leasing journey for many applicants, it has also opened the door for bad actors to manipulate the system, resulting in unpaid rent and bad debt for multifamily owners.<\/p>\n\n\n

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The good news is that you can deter fraud from the very start. Read on to explore how technology can enhance security and efficiency across your online leasing process.<\/p>\n\n\n\n

The rise of real estate fraud<\/strong><\/p>\n\n\n\n

Real estate crimes have increased each year since the pandemic. The FBI’s internet crime reports<\/a> the total reported internet-based real estate crimes soared from $213 million in 2020 to a staggering $397 million in 2022. The multifamily industry was no exception, with many fraudsters taking advantage of the rising popularity of online leasing.<\/p>\n\n\n\n

According to the Pulse Survey conducted by NMHC<\/a>, 93.3% of survey respondents reported experiencing fraud within the last 12 months with 70.7% seeing an increase in the same time period.<\/p>\n\n\n\n

Fraudulent documents have evolved to become increasingly complex. It is now more challenging to detect false applications without the help of technology. And in this digital age, relying on onsite teams to play detective is not practical or efficient.<\/p>\n\n\n\n

Combatting fraud with technology<\/strong><\/p>\n\n\n\n

With the help of AI and automation, tech can detect fake IDs and altered paystubs instantly, stopping criminals who are trying to exploit the system.<\/p>\n\n\n\n

Of the options out there, consider a system that is easy to use, can easily be trained and can seamlessly connect to your property-level data. Overall, you want to choose tech that makes it not only easy for quality applicants to apply, but also creates an uninterrupted experience from prospect to resident.<\/p>\n\n\n\n

How fraud prevention tech can benefit everyone involved<\/strong><\/p>\n\n\n\n

Implementing an automated screening solution is not just about preventing fraudulent applicants during the leasing process. It’s a proactive approach that can be integrated into various stages of your customer\u2019s lifecycle.<\/p>\n\n\n\n