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Best steps to protect onsite property management teams from fraud

In this challenging environment with slow rent growth, leading property management companies focus on maintaining financial stability and operational efficiency. Relying on Payscore to automate income verification addresses these challenges so property managers meet and exceed their NOI goals and streamline operations.

Payscore helps property managers overcome the complexities raised by this new legislation.

Fraudulent paystubs risk operators leasing to unqualified tenants, resulting in financial losses and increased NOI pressure. Automated income verification from Payscore eliminates the costs and challenges of fraudulent paystubs.

With a local labor force leading the way in gig-economy employment, New Earth Residential needed Payscore's automated income verification solution with the native ability to detect the truth about applicant income especially when multiple income streams are present.

Payscore's embedded identity verification accelerates access to the truth about applicant income.

Payscore partner First Advantage recognized by US News & World Report as the leading applicant screening service for residential property managers.

Vidalta faced challenges assessing leasing applications that could be fraudulent. Johnny De La Espriella, VP of Operations, needed a solution for his onsite team that was easy to deploy while improving their ability to make fully informed leasing decisions.

Detecting fraudulent documents is like closing the barn door after the horse is running across the field. Learn how your property management peers are eliminating fraud at the source AND improving NOI by replacing pay stubs with 100% bank-verified analysis. See the truth about applicant income with Payscore.

In the face of escalating cybercrime, residential property management teams are increasingly vulnerable to data breaches and financial fraud. With cybercrime costs projected to reach $13.82 trillion by 2028, the real estate sector must adopt stringent cybersecurity measures to safeguard sensitive resident information.

Some credit repair companies promote CPNs, "credit privacy numbers", to help individuals hide their bad credit history or bankruptcy. They are one of the fastest growing tools used by applicants attempting to find ways to mask historical financial troubles, essentially defrauding property management teams in the application process. Automated income verification from Payscore delivers the protection your property deserves by revealing the truth about applicant income.

Two challenges confront property management teams: first, the explosion of organized rings of fraudsters with the wide availability of “how-to” information on social media exploiting gaps in fraud protection and second, rent growth declining 1% year-over-year. Automated income verification from Payscore renders NOI objectives attainable.

In an age where digital fraud runs rampant, why do residential property managers persist in accepting pay stubs and bank statements?

Did you know that you can copy Myrna's success and drive your delinquency towards zero?

Fairly evaluating applicants for rental housing requires examining a long-term, detailed, and bank-verified analysis covering all sources of income. Only Payscore establishes the truth about applicant income as easily as Click-to-verify.

An automated income verification report from Payscore enables property managers to securely and quickly interpret an applicant’s net income using verified bank data.

Simplify the re-financing or sale of an asset by presenting the due diligence team with a defensible, predictable revenue stream.

Dedicated to helping onsite teams rapidly improve the quality of their leads, Payscore announces new capabilities in their service. Today, Payscore customers can easily learn which banks are included in their network, see whether applicants have erroneously entered duplicate accounts or business accounts in their application, and visually assess the progress and outcomes for the income verification reports they submitted.

From improving efficiency and accuracy to enhancing security and compliance, automated income verification from Payscore simplifies the application evaluation process and enables property managers to make better decisions for their communities. By embracing this technology, property managers can stay competitive in the market, attract the right tenants, and ultimately, boost the Net Operating Income (NOI) of their properties.

Payscore, the PropTech company automating income verification for property managers and consumer lenders, announced the successful close of a financing round led by ffVC of New York. SeaChange Fund, Hamilton Ventures and Seattle’s Alliance of Angels also joined the round.

Customer suggestions drive clarity and efficiency during the income verification process.

Automating income verification helps property managers eliminate drudge-work and focus on their highest value tasks

Creating efficiency for on-site property management teams using Automated Income Verification from Payscore.

The Closing Docs is changing its name Payscore to reflect our dedication to accelerating and simplifying your income verification efforts.

All landlords should verify a potential tenant’s income as part of the tenant screening process. As a landlord, you are looking for tenants with the ability to pay rent on a long-term basis.

It’s common knowledge that as a landlord, you should invest in screening your tenants. One bad tenant can cause a series of headaches, late rent payments, and possibly the expense and hassle of an eviction process. Ugh!

Right now, people should be willing to renew some leases – if you can give them a compelling reason. The economy is good, but it’s getting tougher and tougher for tenants to buy into a hot housing market.

Payscore helped Citi-Urban Management by delivering a robust solution for automating income verification. Using Payscore allows Citi-Urban Management to focus on higher value work without worrying about the nuances in their rental application workflow. In this case, Payscore supports the income verification component for over 100 monthly rental applications completely autonomously.

Payscore continues its successful battle against fraudulent pay stubs submitted by applicants. Our automated income verification report now includes the verified account holder name of the connected bank account or prepaid card.

An automated income verification report from Payscore enables property managers to securely and quickly interpret an applicant’s net income using verified bank data.

Automated income verification from Payscore provides deep insight into any applicant’s ability to pay rent by revealing their net income. Here are some best practices to support getting the best results, quickly.

Payscore has upgraded its income report to support property managers and lenders with making faster and more confident decisions when considering applicants.

When taking responsibility for a property with 42% occupancy, focus and automation are everything. When Mary Magness moved to this newly managed property in Houston, she knew that current business practices were inadequate.

You asked Payscore to identify potentially misleading or even fraudulent application submittals. Sometimes our reports reveal applicant names that are different from the account holder name.

Payscore has improved its recurring income algorithm to identify gaps in pay for recurring income streams. Such gaps could be due to furlough periods, seasonal work or other temporary breaks in pay.

With Payscore, it doesn't matter what the fraudsters are doing. We go straight to the source to instantly deliver the info landlords need to make well-informed decisions regarding applicant income.

For years, RentPrep manually called employers to confirm the income of potential renters. Sometimes, we paid vendors for extraneous information we neither sought nor wanted. Still others failed to verify the income of even 50% of our applicants.