Leasing teams often underestimate the complexity and critical importance of verification, leading to costly mistakes and increased risks for property owners and managers. Below is a thorough breakdown of common errors leasing teams make in the verification process, why these mistakes occur, and proven strategies to avoid them.
Renter fraud is rising rapidly, especially with applicants using advanced tactics like fake identities, synthetic documents, and forged pay stubs. Many leasing teams still rely on basic visual checks and manual reviews, which are no longer sufficient to detect sophisticated schemes. This exposes properties to missed rent, costly evictions, and threats to community safety.
Manual verification—calling employers, visually inspecting documents, and reviewing credit reports—may miss subtle inconsistencies or forged paperwork. Teams stretched thin by staffing shortages may also take shortcuts, leading to insufficient checks or oversights. Modern fraud often bypasses these traditional methods, requiring advanced technology-driven solutions.
Many leasing teams fail to verify income directly with trusted data sources (like payroll providers or financial institutions), instead accepting screenshots or PDFs that can be easily altered. This increases the risk of approving unqualified or fraudulent tenants.
Verification steps are sometimes spread across multiple tools or teams, creating gaps where important details can slip through. The lack of a unified, integrated platform means key information—like updated insurance coverage or changes in employment—is missed or not properly tracked.
High leasing targets, limited resources, or pressure to fill vacancies can tempt teams to overlook warning signs or skip steps in the verification process. This is especially dangerous during economic downturns when fraud attempts tend to spike.
By recognizing these errors and deploying comprehensive verification solutions, leasing teams can protect their properties, reduce fraud, and enhance operational efficiency.
