RealPage, Inc. has launched Identity Verification (IDV) across its leasing, screening and payments solutions. RealPage IDV is the industry’s first comprehensive solution designed to prevent fraud at multiple touchpoints across the leasing and payments process, saving property management operators over $30 per unit per year. Identity fraud is a pervasive issue, and the problem has accelerated in recent years. According to the Federal Trade Commission, in 2020, 2.2 million consumers filed fraud reports and 1.4 million filed identity theft reports, up 115% from 2019. This resulted in $3.3 billion in total fraud losses, up from $1.9 billion in 2019. Identity theft has intensified during the pandemic, with one in 10 U.S. adults reporting identity theft since the pandemic began. In multifamily real estate, the costs associated with identity fraud are considerable, and include lost rent revenue, increased legal costs, lower productivity and reputational damage. Industry research indicates that property managers incur many thousands of dollars in additional expenses in connection with eviction-related vandalism and other expenses due to application, screening and payment fraud. RealPage IDV provides property managers with a complete, easy-to-use solution that helps them reduce fraud. It employs comprehensive, dynamically-updated identity intelligence and pattern recognition which provides visibility into the profiles of both the application and the applying identity to detect multiple forms of identity fraud. As prospects, applicants and residents increasingly rely on self-service and online options, and as in-person tours return to normal, an integrated solution to confirm the true identity of the person touring or renting a property is becoming a necessity. Applicant IDs are verified via a contactless, multilevel government-issued ID validation process, all done through the applicant’s phone. The Document Validation process is also integrated with onsite touring options (self-guided or guided), preventing bad actors from putting agents and properties at risk. At payment, IDV integration helps ensure that online ResidentDirect payments are verified before processing begins, which can prevent costly chargebacks and lost rent payments.