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Detecting & Stopping Application Fraud

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What’s the problem for most property managers? 

The standard tenant screening process is unreliable and costly. 

97% of property managers have experienced fraud. 

What’s the impact? 

Evictions and lost rent. 

What are some of the common ways renters are conducting fraud? 

  • Providing fake paystubs
  • Providing fake IDs or someone else's identity 
  • Providing fake bank statements
  • Providing fake rental and landlord information 

What technology is Sunroom using? 

  1. Secure connection to tenant bank accounts and payroll to verify income
  2. Identity verified with selfie AI to ID comparison
  3. Humans review documents and make calls to verify
  4. Payroll Provider APIs 
  5. Receive credit, eviction, and background check reports from Transunion 

What are the benefits of this technology? 

  1. Verified directly by a third-party database
  2. Easier for the renter to complete the rental application 
  3. Provided information can’t be forged 

What else is Sunroom doing? 

  • Providing and sharing standard credit, background, and eviction checks. We partner with Transunion for this data. 
  • Reviewing documents and making calls to employers & landlords to verify the information provided.
  • All the support (phone, text, email) to answer questions.
  • Nudge renters to complete their apps. 
  • We have an entire team working on renter applications 7 days a week. 
  • Pet screening, when setting is applied to your account.

What are a few key questions to ask in the verification process for landlords? 

We go beyond “standard rental history checks”.  

  • Did they take care of the property?
  • Were they respectful neighbors?
  • Did they keep the place clean?

What’s the benefit, other than fraud prevention:

  • +1 hour saved  on each application processed
  • Peace of mind knowing that you’re using the latest technology and best practices. 
  • Better experience for qualified renters

Could you talk more about having a better application process for renters? 

  • Renters love the security and ease of using Sunroom: We have a 64 NPS.
  • The application is designed for mobile, and 80% of renters like to apply.  
  • Happy renters are 3X as likely to renew, keeping your units occupied.
  • Consistent process across applications to ensure fair housing compliance.

Can I see some of the types of information I’ll be provided?