Rental Application Fraud Goes Viral on Social Media!

Rental application fraud has always been a problem, but there’s a new trend on social media to share techniques for duping your future landlord. Deceptive tenants are learning from people boasting about their success at scoring luxury apartments with fake documents… and sharing tips on how to create them.  Bisnow published an extensive report on the problem just recently. It’s called “How Renters Are Using TikTok, X to Defraud Landlords at Luxury Apartments.” But it isn’t “just” luxury apartments. It could be an apartment where there’s a lot of competition among tenants, so the less worthy ones give themselves a phony upgrade... ...The NAA says that many of this fraud cases involve professional criminals, but easy-to-follow instructions on social media, the most unassuming rental applicant could suddenly become a fraudster. The NAA published a great article on how landlords can protect themselves. You’ll find a link to that article in the show notes at newsforinvestors.com, along with links to the other articles mentioned in this episode. I encourage you to sign up as a RealWealth member to learn more about the real estate business. You’ll find hundreds of “how to” webinars on buying rental properties and creating a portfolio that will give you passive income. You can also connect with other investors, real estate professionals, and our investment counselors. It’s free to join and just takes a few minutes.    Also, please remember to subscribe to this podcast, and leave a review!   Thanks for listening! Kathy Fettke   Links:   1 - https://www.bisnow.com/national/news/multifamily/how-tiktok-instagram-are-fueling-apartment-application-fraud-into-overdrive-121895   2 - https://snappt.com/fraud/?utm_term=snappt&utm_campaign=Brand&utm_source=adwords&utm_medium=ppc&hsa_acc=3404946819&hsa_cam=17124549291&hsa_grp=133583795222&hsa_ad=595908534849&hsa_src=g&hsa_tgt=kwd-438833505077&hsa_kw=snappt&hsa_mt=p&hsa_net=adwords&hsa_ver=3&gad_source=1&gclid=Cj0KCQiA7OqrBhD9ARIsAK3UXh09UKkEkoQP1oXoBLsgdH-hnPttAy_4uu8PpLUboTz4comcJv7k8iQaAqGNEALw_wcB   3 - https://www.naahq.org/how-property-managers-can-combat-application-fraud