Colorado is a beautiful state encompassing much of the southern rocky mountains, with a population of approximately 5.75 million people. Over the past decade, the population has grown approximately 15%, and it’s projected that the population will continue to grow as much as 30% by 2040. With Colorado becoming such a desirable spot to live and many newcomers coming to the state, it’s crucial for property management companies to be prepared. Protecting your assets against rental fraud is key. While renter fraud has become an increasingly prevalent issue over the years, most property management companies still struggle to combat it. The first and most important step you can take is verifying IDs at the time of apartment tours. With CheckpointID, you can instantly scan IDs and know within seconds if it passes or fails. This not only helps to protect the safety of your employees and tenants but also saves time and money in the long run. Keep reading to learn more about our ID verification system and how it’s beneficial for property owners and reduces rental fraud.
Why is Protecting Against Rental Fraud Important for Property Owners?
As a property owner, you put a lot of trust into your tenants to respect the property. However, rental fraud against property owners, also known as “renters fraud,” affects many more property owners than you may realize. Did you know that nearly 97% of management companies have experienced rental fraud? This is a dauntingly high number, and so many property management companies are still taking a back seat when it comes to preventative action. Being proactive and using an ID verification system is the first step that should be taken to prevent rental fraud. One incident of rental fraud alone can cost $5,000-$10,000 between legal fees, the cost of evicting tenants, not to mention the time wasted. With rental fraud being extremely prevalent and costly, it’s more important than ever for property owners to protect themselves and their properties.
How CheckpointID Works
CheckpointID makes it easy to verify prospective tenants in real-time. At the time of an apartment tour, you can scan their ID, and within seconds, our system instantly matches thousands of lines of ID code against our proprietary library of international databases. If any inaccuracies are detected, the ID will fail. This simple step can help to save you a great deal of time and money in the long run.
- Improve leasing safety
- Rental fraud prevention
- Simple, easy-to-use interface
- Real-time marketing data
- Results are instant
Schedule a Demo
Interested in learning more about CheckpointID’s ID verification system? Schedule a demo today to get started! We’ll be happy to answer your questions and give you more information about our software. We look forward to working with you, and together, helping to prevent rental fraud in Colorado.