The rental housing industry is always battling fraud in one form or another. In the pre-digital era, managers encountered fake IDs and counterfeit financial documents. As a result, they sometimes leased their properties to renters who would eventually miss rental payments, squat on a property, or abandon a property unexpectedly. In today’s digital world, the same type of fraud occurs. However, with the right technology, it’s faster and easier to detect. Even so, fraudsters constantly up their game. It’s a never-ending battle! Thankfully, Rently can help you win by countering fraudster technology with modern security technology. We offer the industry’s most secure self-guided touring platform so you can combat rental fraud as early as possible in the leasing lifecycle.
Rently is a leader in self-guided property touring and smart home technology. Our mission is to create the best rental experience in the world for both renters and leasing professionals. We strive to help our clients become more efficient, mitigate fraud risks early, capture more leads, and ultimately sign more leases.
Rently’s smart leasing platform is already a proven solution to help single family and multifamily operators lease faster, streamline operations, and increase NOI. What makes us exceptional, however, is the way we approach tour security and fraud detection/prevention.
Because Rently offers the most advanced fraud protection technology stack in the industry, you’re able to keep up with the sophistication of today’s scammers. Our proprietary technology, coupled with the safeguards of numerous trust & safety partners, create the strongest, multi-layered fraud prevention system available today.
Rently’s approach to fraud detection includes establishing foundational security measures prior to a rental prospect visiting your property. In addition, we enable numerous other fraud detection signals along the entire renter journey, and we tailor our solution to customers’ specific fraud detection needs.
Creating A More Secure Renter Journey
As you know, fraud leads to reputational damage and revenue loss. It’s important to catch fraudsters early, before you have to pay the price for it. With Rently, your company is able to utilize built-in fraud detection technology right from the start.
Industry Challenge: “Transunion reports that 95% of companies surveyed experience difficulties identifying, mitigating, or preventing fraud.”
The good news is that Rently does the heavy lifting for you! Only when rental prospects pass through our various layers of security — based on your specific fraud detection requirements — are they allowed to proceed to tour your properties.
Rental prospects view your available properties online via Rently Listings, our popular ILS, with more than 10 million annual visitors. When the rental prospect shows interest in your properties, they are able to quickly select “Self-Tour”. It’s at that time that Rently applies a comprehensive and multi-layered security approach to verify the renter’s identity.
Everything Starts with Instant Identity Verification!
Our foundational fraud prevention measures ensure the best possible renter experience, one that offers the lowest amount of friction for your prospects and leasing teams.
It all starts with VERIFIED RENTERS!
All rental prospects who request a self-guided tour must create a renter profile. Rently requests a government-issued photo ID, and we make sure it’s valid. Then, using facial biometric screening technology, we compare this ID to a live selfie. We also request the renter’s phone number and email address. Finally, we verify their credit card information — everything must match.
Rently even verifies the physical location of a rental prospect when they arrive at your property by requiring prospects to turn off their VPNs to confirm that they are within your specified geo-fence radius. In doing so, Rently ensures that scammers are not requesting tours themselves and then sending the tour information to an unsuspecting rental prospect, as if it’s from the real property manager.
Customizable Security Options To Detect Scams
Our next layer of security includes additional customizable safeguards designed to prevent property scams, squatter scenarios, and social engineering, the most prevalent fraud types post-Covid.
To avoid these scams, Rently provides property managers with unique pre-screening questions and other customized security features. For instance, managers can set self-guided tour limits, send renters information about what to look for to avoid being scammed, and ask prospects to validate key details from listings to prevent influence from an outside scammer. Rently also sends managers real-time notifications if a prospect fails these verification steps, or if a verified prospect reports damage at the property.
Maximum Security Protection To Prevent Fraud
Rently’s maximum security features use dynamic machine learning and advanced analytics to analyze patterns of fraudulent or suspicious activities before, during and after prospective renters tour properties. These optional, advanced security features are designed for clients in regions where rental fraud is a major issue. Our multi-layered approach to security is completely customizable for each client to meet their specific fraud detection requirements. Our security system at this level looks at signals and patterns to identify vulnerabilities and the effect on business operations. This gives clients the ability to continuously monitor consumer activity and assign new risk scores if consumer behaviors evolve.
Financial, Credit, Criminal, and Eviction Data
For More Informed Leasing Decisions
Property managers need accurate renter data intelligence to make more reliable leasing decisions. Rently uses information provided by numerous trust and safety partners to create a more complete “Renter Profile”. This includes financial information and income verification; credit information (including credit score, payment history, and types of credit accounts); criminal records check; bankruptcy and eviction records information.
Rently also partners with TransUnion™, one of the major credit bureaus, to collect credit data specific to the rental housing industry. By using our proprietary rental application service, leasing companies receive a complete picture of the prospective renter’s financial capability, verified income, and reports related to previous criminal, bankruptcy and eviction history. As a result, managers are again reassured that only “Verified Renters” move into their properties.
Why Use Rently For Your Fraud Prevention
Rently provides a secure lead-to-lease solution for all property types. Based on our clients’ usage, most are experiencing a 25% increase in tours, filling vacancies 75% faster, and stopping more fraudsters from targeting their properties.
Self-guided touring is now a requirement to attract more leads and sign more leases. However, it’s important to mitigate risks early in the process. Rently applies the appropriate fraud prevention measures at every step of the renter’s journey using the most secure technology available without placing additional friction on prospective renters and leasing teams.
With Rently, you gain the efficiency of self-guided touring, your company is able to keep up with the sophistication of fraudsters, and you only allow verified renters to tour your property.
By relying on Rently’s advanced fraud protection technology, you will be able to:
- Increase your tour numbers by 25% and sign more leases!
- Accommodate the 42% of renters that want to tour outside of office hours.
- Automate leasing tasks and gain operational efficiencies, including a savings of 30-60 minutes of staff time per tour.
- Streamline workflows by integrating Rently’s secure, self-guided touring software with your existing PMS.
- Fight fraud by only allowing VERIFIED RENTERS to tour your properties.
- Empower your leasing teams to make good decisions; and
- Reduce your property’s time on market and fill vacancies faster!
Learn more about Rently today!