Stopping Fraud Before It Starts
Discover how Summit Property Management significantly reduced fraud losses and enhanced operational efficiency by migrating to RealPage® Identity Verification - Premium.
Previously, Summit's reliance on a manual, basic IDV system led to increasing fraudulent applications, inefficient manual verifications, and escalating bad debt across their portfolio of nearly 11,000 units, posing substantial operational and financial challenges.
The implementation of IDV Premium marked a strategic advancement, centralizing and automating the verification process to effectively mitigate sophisticated fraud. This yielded immediate, measurable results: a 15% fraud detection rate at the initial stages of the leasing journey, and an average savings of $10,000–$15,000 per prevented fraudster, effectively mitigating costs associated with evictions, unit turnover and rent loss. With its advanced verification capabilities and detailed risk scoring, the platform delivers comprehensive visibility into applicant risk, facilitating faster, data-driven decisions.
