Applicant document fraud took off in 2020 amid a pandemic.
Snappt analyzed application documentation for over 15,000 rental applications in 2020. On average, our customers saw a 14% fraud rate and collectively saved an estimated $15 million in eviction costs.
FRAUDULENT DOCUMENTS WENT UNDETECTED IN 2020
Snappt estimates that 21,040,825 fraudulent application documents were undetected in the United States in 2020, putting property owners at increased risk.
We used to vet applications by hand. That took upwards of three days, and we had a high number of applicants bowing out as a result. With Snappt, we’ll submit the resident’s information and we have an answer in less than a day—often just an hour.
Community Diretctor at Annadel Apartments
Property managers are a tight group, we talk to each other all the time. I’ve been telling everyone I know about Snappt. I tell them that even if you don’t have a lot of fraud, it’s still a good system to have in place so you avoid the risk.
Business Manager at NoHo14