Latest News & Updates

Do ChatGPT and Other AI Tools Increase the Risk of Fraud?

Best steps to protect onsite property management teams from fraud

The Secret Weapon for Property Managers in The Fight Against Fraud

Detecting fraudulent documents is like closing the barn door after the horse is running across the field. Learn how your property management peers are eliminating fraud at the source AND improving NOI by replacing pay stubs with 100% bank-verified analysis. See the truth about applicant income with Payscore.

The Secret to Smarter Income Verification

Security for Property Management: The Role of Automated Income Verification

In the face of escalating cybercrime, residential property management teams are increasingly vulnerable to data breaches and financial fraud. With cybercrime costs projected to reach $13.82 trillion by 2028, the real estate sector must adopt stringent cybersecurity measures to safeguard sensitive resident information.

CPNs: The New Source of Rental Application Fraud

Some credit repair companies promote CPNs, "credit privacy numbers", to help individuals hide their bad credit history or bankruptcy. They are one of the fastest growing tools used by applicants attempting to find ways to mask historical financial troubles, essentially defrauding property management teams in the application process. Automated income verification from Payscore delivers the protection your property deserves by revealing the truth about applicant income.

Rental Application Fraud Climbs 75%

Two challenges confront property management teams: first, the explosion of organized rings of fraudsters with the wide availability of “how-to” information on social media exploiting gaps in fraud protection and second, rent growth declining 1% year-over-year. Automated income verification from Payscore renders NOI objectives attainable.

Why Are You Still Accepting Paycheck Stubs and Bank Statements?

In an age where digital fraud runs rampant, why do residential property managers persist in accepting pay stubs and bank statements?

Driving Delinquency towards Zero

Did you know that you can copy Myrna's success and drive your delinquency towards zero?

Ensuring Fair Income Verification

Fairly evaluating applicants for rental housing requires examining a long-term, detailed, and bank-verified analysis covering all sources of income. Only Payscore establishes the truth about applicant income as easily as Click-to-verify.

How to Read an Income Criteria Report from Payscore

An automated income verification report from Payscore enables property managers to securely and quickly interpret an applicant’s net income using verified bank data.

Elevate asset income by automating income verification with Payscore

Simplify the re-financing or sale of an asset by presenting the due diligence team with a defensible, predictable revenue stream.

Payscore accelerates income verification with new automation

Dedicated to helping onsite teams rapidly improve the quality of their leads, Payscore announces new capabilities in their service. Today, Payscore customers can easily learn which banks are included in their network, see whether applicants have erroneously entered duplicate accounts or business accounts in their application, and visually assess the progress and outcomes for the income verification reports they submitted.

Top 5 Reasons Automating Income Verification Drives Efficiency for Property Managers

From improving efficiency and accuracy to enhancing security and compliance, automated income verification from Payscore simplifies the application evaluation process and enables property managers to make better decisions for their communities. By embracing this technology, property managers can stay competitive in the market, attract the right tenants, and ultimately, boost the Net Operating Income (NOI) of their properties.

Payscore Secures Funding to Accelerate Sales, Increase Customer Efficiency

Payscore, the PropTech company automating income verification for property managers and consumer lenders, announced the successful close of a financing round led by ffVC of New York. SeaChange Fund, Hamilton Ventures and Seattle’s Alliance of Angels also joined the round.

Customer Insights Deliver Valuable Product Advancements

Customer suggestions drive clarity and efficiency during the income verification process.

Automating Income Verification Helps Property Managers Hurdle Their Top Challenges

Automating income verification helps property managers eliminate drudge-work and focus on their highest value tasks

Alliance 2020 Accelerates Income Verification using Payscore

Creating efficiency for on-site property management teams using Automated Income Verification from Payscore.

The Closing Docs Becomes Payscore

The Closing Docs is changing its name Payscore to reflect our dedication to accelerating and simplifying your income verification efforts.

Verify Your Tenant Applicant’s Income The Right Way

All landlords should verify a potential tenant’s income as part of the tenant screening process. As a landlord, you are looking for tenants with the ability to pay rent on a long-term basis.

Should I Use Net Income or Gross Income for Tenant Screening?

It’s common knowledge that as a landlord, you should invest in screening your tenants. One bad tenant can cause a series of headaches, late rent payments, and possibly the expense and hassle of an eviction process. Ugh!

Master Your Lease Renewal Strategy to Minimize Lost Revenue from Vacant Units

Right now, people should be willing to renew some leases – if you can give them a compelling reason. The economy is good, but it’s getting tougher and tougher for tenants to buy into a hot housing market.

Automating Income Verification Streamlines Application Process to 3-clicks

Payscore helped Citi-Urban Management by delivering a robust solution for automating income verification. Using Payscore allows Citi-Urban Management to focus on higher value work without worrying about the nuances in their rental application workflow. In this case, Payscore supports the income verification component for over 100 monthly rental applications completely autonomously.

Payscore Now Verifies Account Ownership

Payscore continues its successful battle against fraudulent pay stubs submitted by applicants. Our automated income verification report now includes the verified account holder name of the connected bank account or prepaid card.

How to Read a Legacy Income Report from Payscore

An automated income verification report from Payscore enables property managers to securely and quickly interpret an applicant’s net income using verified bank data.

Automated Income Verification Best Practices

Automated income verification from Payscore provides deep insight into any applicant’s ability to pay rent by revealing their net income. Here are some best practices to support getting the best results, quickly.

Payscore Has Revised Its Report Format

Payscore has upgraded its income report to support property managers and lenders with making faster and more confident decisions when considering applicants.

Doubling Occupancy by Slashing Application Processing Time

When taking responsibility for a property with 42% occupancy, focus and automation are everything. When Mary Magness moved to this newly managed property in Houston, she knew that current business practices were inadequate.

Payscore Now Identifies Mismatched Names Within Automated Income Verification Reports

You asked Payscore to identify potentially misleading or even fraudulent application submittals. Sometimes our reports reveal applicant names that are different from the account holder name.

Payscore Now Identifies Pay Gaps in Recurring Income

Payscore has improved its recurring income algorithm to identify gaps in pay for recurring income streams. Such gaps could be due to furlough periods, seasonal work or other temporary breaks in pay.

10 Reasons Why Payscore is a Better Solution than AI-driven Fraud Detection Alternatives

With Payscore, it doesn't matter what the fraudsters are doing. We go straight to the source to instantly deliver the info landlords need to make well-informed decisions regarding applicant income.

How RentPrep Automated Income Verification to Achieve 100% Accuracy of Applicant Income Data

For years, RentPrep manually called employers to confirm the income of potential renters. Sometimes, we paid vendors for extraneous information we neither sought nor wanted. Still others failed to verify the income of even 50% of our applicants.

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