Fraud is a costly and growing problem in the billion-dollar apartment rental industry. The rental application process has gone through a digital revolution over the past decade. While this progress has made transactions more convenient for applicants and leasing professionals, it has also lead to rampant application fraud. Application fraud accounts for an estimated 50% of evictions, and 97% of property managers have experienced at least one case of fraud in the past year. This is where Snappt enters the picture.
Snappt is the solution that reduces the risk of bad debt by empowering the real estate industry with revolutionary, AI-enabled fraud detection software. By implementing Snappt into your current leasing flow, you can provide your team with the necessary tools to combat this commonly unchecked problem.
In 2017 Snappt was founded after the cofounders had been running their own property management companies and noticed a significant, industry-wide financial issue in the billion-dollar apartment rental industry. As a result Snappt was launched, which provides proprietary software that aids and streamlines the apartment rental process by reducing bad debt, increasing asset value, and minimizing application review time.