Avoid Expensive Evictions
The best way to avoid evictions is to utilize a thorough tenant screening process—yet it’s easier than ever for tenants to alter documentation, such as pay stubs and bank statements, so they can fraudulently qualify for units.
The digitization of the rental application process has led to rampant application fraud. In the past year, 97% of property managers have experienced application fraud, which accounts for an estimated 50% of evictions. At $7,500 or more per eviction, this is an expensive problem for landlords.
To reduce evictions, you need to address the growing problem of document falsification.
