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Resident Screening: Is more better?

Currently, it’s very easy to go online and create fake pay stubs or new identities that will help individuals get approved that may not meet all of your requirements based on their actual credit history and income. In the past it has been time consuming and/or costly to run background and income checks on applicants. So the question arises how in-depth your screening process needs to be?

What types of application fraud should you be looking for?

Having the ability to process rent payments and applications online is a blessing and a curse for many multifamily businesses. On the one hand, it speeds up the process of getting funds from residents into your accounts. On the other hand, it opens the door for applicants to commit fraud by shielding their true identity or by creating an entirely new identity to sneak by your screening process and get approved for a unit they might otherwise have been denied, or present you with payment methods that don’t have the necessary funds.

Protecting Your Multifamily Business from Fraud

With how rampant fraud is in the multifamily industry, it’s not a matter of if you’ll experience it, but when. If you aren’t taking the necessary measures to prevent fraud from happening and mitigating the risk of potential fraud, you’re opening a Pandora's box that could lead to lost revenue that you may never recover.

Tips for Fostering a Sense of Community

The first differentiating factor property management companies should consider is fostering a sense of community. One of the hardest parts about renting vs. buying is finding a sense of belonging and feeling at home. By their nature, apartments often aren’t permanent. The average resident will stay in one place for under three years. But that doesn’t mean property management companies can’t build vibrant communities that feel like home no matter how short or long a resident occupies their unit. There are numerous strategies and programs that, when implemented, help achieve this goal.

Apartmentalize 2023: Industry Gathers for an Up-Close Look at Modern Multifamily

The apartment industry did a collective exhale in mid-June, which was fitting. Apartmentalize, the industry’s largest conference—and the one most thoroughly planned for by operators and suppliers alike—had made another successful three-day run.

Tips for Increasing Compliance for your Insurance Mandate

If you do have a mandate for renters insurance in your lease agreement, it doesn’t do much good if you aren’t taking the steps to ensure residents are in compliance. Below are a few tactics we’ve seen that when put in practice have a significant impact on the number of insured residents at the beginning of the lease as well as the number of residents that maintain coverage while residing at your property.

Finding the Right Balance

How to technology helps multifamily businesses find the right balance between maximizing profits and delivering the best resident experience If someone were to ask you why do people invest in multifamily properties, you might get a lot of answers, but at the root of it is to make money because in the long run real estate will always be a good investment. However, beyond that, the multifamily industry is built on providing one of the most essential services to the residents we serve.

Blog

Resident Screening: Is more better?

Experience the new standard

Property Management

Property Management

Resident Experience

AI & Automation

Analytics

Solutions

Company

Blog

Resident Screening: Is more better?

What types of application fraud should you be looking for?

Protecting Your Multifamily Business from Fraud

Tips for Fostering a Sense of Community

Apartmentalize 2023: Industry Gathers for an Up-Close Look at Modern Multifamily

Tips for Increasing Compliance for your Insurance Mandate

Finding the Right Balance

Experience the new standard

Property Management

Property Management

Resident Experience

AI & Automation

Analytics

Solutions

Company

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