The rental market is starting to feel a little like Vegas—except the odds are stacked in favor of fraudsters. Renters face the triple threat of fake listings, AI-forged documents, and their desperation. And while landlords eye six-hour fraud detection turnaround times, scammers only need six minutes to reel in their next victim. Property managers and renters are playing a losing game without stronger safeguards. "Fraud is evolving at an unprecedented rate, putting immense pressure on multifamily property managers to keep up,” said CEO Daniel Berlind. “Our latest report and new solutions empower the industry to tackle fraud head-on while maintaining a frictionless application process for prospective renters.” Other key findings from the report include: Over half of the respondents, 51%, use ID verification, while 46% are verifying manually and 2% have no verification, making it easier to become a victim of fraud; Respondents said the minimum acceptable turnaround time to detect applicant fraud, verify income, and return an income calculation is on average six hours or less; Over half of respondents, 53%, reported that they would be willing to sacrifice accuracy for a faster turnaround time; however, 37% said they would not; and While 75% said they are detecting applicant fraud through tenant screening, only 51% said they are utilizing fraud detection tools. In addition, 4% reported not using any fraud detection tools." https://lnkd.in/ejWkkgEK