Tomorrow at Noon: NBOA Zoom Call: Strategies for Dealing With Fraud Facing Neighborhood Multi-family

President & Managing Broker

The Apartment Source

Panelist

Relationship Bank Officer

Wintrust Bank

Panelist

With the advent of AI and other technologies, the multifamily industry is confronting an increasing number of fraud types, leading to significant implications and costs. This NBOA Workshop will address three specific areas of concern:

Postal: Learn how criminals use the postal system to commit fraud and discover strategies for ensuring safe and secure mail service in your mail rooms. Click to see example of theft from a building’s mailbox.

Banking: As electronic banking becomes more common, understand the steps you should take to prevent being defrauded and the necessary checks and balances to implement.

Rental Screening: Discover how to protect your properties from fraud when screening prospective tenants.



We have three expert panelists who will share their knowledge and insights on these critical topics.

We encourage you to invite your staff, as this workshop will provide valuable information for everyone involved in property management.

Leasing fraud is a massive problem nationwide.

See this excerpt from a disturbing article published in Yahoo News October 22nd.

“Atlanta, a city once known for its affordability and Southern hospitality, is now grappling with a very different reputation: a hot spot for rental application fraud.

As high-end apartments sit vacant and affordability dwindles, property managers report a sharp rise in applicants falsifying income, employment, and even identities—all in an effort to secure leases they might not otherwise qualify for.

Greystar, the nation’s largest apartment landlord, says up to 50% of rental applications in some Atlanta buildings are fraudulent, according to the Wall Street Journal. Other landlords also see the trend, citing a surge in fake pay stubs, doctored bank statements, and false employment verification letters—many of which are being sold on social media platforms such as TikTok.”

As per the above cited Wall Street Journal article:

• Nationally, nearly three-quarters of apartment owners saw a 40% increase in rental application and payment fraud last year.

• The surge in fraud is linked to an unbalanced housing market, a glut of luxury units and a shortage of affordable housing.

Edgewater Uptown Builders Association (EUBA)

Greater Austin Development Association (GADA)

Lakeview Developers Association (LDA)

Latino Real Estate Investors Council (LREIC)

Lincoln Park Builders of Chicago (LPBC)

North Suburban Housing Providers (NSHP)

Northwest Side Building Coalition (NSBC)

Rogers Park Builders Group (RPBG)

South Side Community Investment Association (SSCIA)

Southside Builders Association (SSBA)

Southwest Housing Providers Group (SWHPG)

West Suburban Building Owners Association (WSBOA)

Neighborhood Building Owners Alliance is a 501(c)4 tax-exempt organization.

Accordingly, contributions are not deductible as charitable donations.