You know how this works. You advertise your property, get applications, and start the screening process to find the best qualified tenant. It sounds simple, right? But what are you looking at when you receive the information? Paycheck stubs? Other forms of income verification? A written reference from their former Landlord. You even got lucky with the Landlord’s phone number, which you called, and received confirmation this applicant will be a great tenant for you. It all looks and sounds legitimate. But what if it’s all made up?
Deception is Real
Disinformation is a growing industry specifically designed to get around Landlord qualification criteria and focuses on creating false documentation for such purposes. According to RenterVibe, Florida is one of the top ten states with the most renter application fraud. One deceptive company’s website boasts, “With our fake landlord references, we set up a dedicated phone line and voicemail with the area code that you desire.” Application fraud is a real and serious risk.
What Exactly is Application Fraud?
Actually, any false information on an application is considered fraudulent. Can you look at an application and spot the discrepancies? What about an employment paycheck stub? Can you tell whether it is real or fake? Without a professional property management company screening these types of references for you, how would you recognize whether the information is authentic or fraudulent?
Experience Matters
That is where experience and dedication to uncovering the real truth come into play. A property management company should not abandon such practices because of the additional effort and manpower involved. They should be doing their due diligence and using every resource available to ensure:
- Tenants ARE Who they Say they Are
- Previous Landlord References are 100% Accurate
- Income is Verified
- All Credit and Criminal Background Checks are Completed
- Quality Tenants are Occupying your Property
- Peace of Mind
What We Do
At Wilson Management Group we are committed to providing our clients with the best qualified tenants and going the extra mile to guarantee that quality. Well-qualified applicants are the first and most important step in achieving long periods of uninterrupted tenancy, resulting in more financial stability for your investment. With over 35 years in the property management business, our record speaks for itself.
Learn More
Ready to learn how a professional property management company can protect you and your property from the risk of application fraud? Contact us here to learn more.
