Case Study: Summit Property Management reduces fraud losses with RealPage Identity Verification Premium

Summit Property Management reduces fraud losses by 15% with RealPage

Summit Property Management, a company managing nearly 11,000 apartment units, faced significant operational and financial challenges due to increasing fraudulent rental applications. Their previous system for identity verification was manual and basic, leading to inefficiencies and rising bad debt. To address this, they turned to RealPage and implemented its Identity Verification - Premium service.

RealPage's solution automated and centralized the verification process, providing detailed risk scoring for applicants. This allowed Summit Property Management to detect fraud much earlier. The implementation by RealPage yielded immediate results, including a 15% fraud detection rate at the initial leasing stage and average savings of $10,000 to $15,000 for each instance of prevented fraud, effectively reducing costs related to evictions and lost rent.

Summit Property Management