Risk Mitigation Today, Tomorrow and 2020

Risk Mitigation Today, Tomorrow and 2020

A year of transition

Speakers Chris Beshirs, and James Hilliard shared the most recent releases and enhancements to the RealPage LeasingDesk Screening solution, including new criminal record filters, classifications, and criminal photograph functionalities. Multi-Step Screening and the ability to pull credit without a social security number are just some of the most advanced tools available now through RealPage Screening.

Best practices at the portfolio level

Chris pointed out that in order to make the most informed leasing decisions possible today, it’s important to be vigilant with:

  • Monitor scheduled reports
  • Standardize your scoring models
  • Rescore vs. rescreen
  • Keep your criminal policies consistent
  • Get the most complete data
  • Review for accuracy

Screening tomorrow

With the growth of access to personal data, such as online shopping, new internet and social media users, and the expanding proliferance of posting personal information, it’s becoming much more important to have robust screening processes in place, James Hilliard pointed out.  Incidences of applicant fraud are surging, and more and more lease applicants are falsifying their ability to pay, using out-of-state addresses, omitting previous addresses, and listing friends and relatives who are “in on the act.”  “Synthetic identities” are on the rise.

In his discussion about the increasing threat fraud poses today, James shared that 95% of all data breaches in the US are in healthcare, but this doesn’t mean we can sit back and relax.

New ways to protect yourself instead of your properties

RealPage Screening will be rolling out advanced software enhancements Q3 and Q4 of 2017, investing in solutions to help clients mitigate risk through more effective and efficient resident screening. By 2020, predictions are that we will be moving toward “trusted digital identities,” utilizing biometrics, verification codes and moving away from passwords.

Overheard

Chris Beshirs: “Screening can tend to fall victim to a “set-it-and-forget-it” mentality,” adding that it’s critical for property owners and operators to tailor their policies to their specific risk profile. He added, “The way that consumers are acting influences the way your business will operate.”

James Hilliard: “We need to simplify to amplify,” commenting on the RealPage imperative to take a holistic view of identity in our software, spanning processes through multiple platforms.

Learn more about Resident Screening.