CheckpointID was founded in 2017 to transform ID verification and fraud prevention processes across the multifamily sector. The company set out to develop services that empower property businesses to create a safer, more accurate, and more objective leasing process – ultimately reducing risk for staff and the community. This included an application to provide ID scanning for multifamily real estate to help reduce and deter fraud.
In 2020, CheckpointID was acquired by MRI Software, a global real estate technology leader that has served the multifamily industry since 1971. As part of the MRI family, CheckpointID continues to develop innovative software that empowers multifamily properties to protect their teams, their business, and their time.
The Challenge
Fraud has become increasingly common in the multifamily housing industry—and fraud rates rise every year. CheckpointID provides communities with an advanced ID verification solution to increase resident and staff safety, protect properties from financial losses, and help leasing teams reach their goals.
Fake IDs are a key asset used by fraudsters and bad actors to initiate fake inquiries. ID verification technology can stop bad actors before they tour or apply, saving leasing teams tons of time and reducing financial risk.
Software Solution
CheckpointID partnered with ID scanning leader IDScan.net in 2017 to create an ID verification system that provided an additional level of safety and security.
Property managers, leasing agents, and security guards use an onsite iPad to scan a potential resident’s ID to confirm the ID is valid. Applicants that aren’t onsite are sent a link to verify their ID remotely. The system can validate government-issued IDs from virtually anywhere in the world, and facial match technology adds yet another layer of identity verification.
Benefits of ID scanning in real estate
- Rental fraud protection
- Improved leasing safety
- Real time marketing & demographic data
- User friendly point-and-click ID scanning
- Instant results
- Layered security can be escalated to include third party checks
Instead of a cursory look and “best guess” to determine whether an ID is real, property managers use state-of-the-art technology to ensure prospective renters are who they say they are. Property owners have significantly reduced fraudulent rentals, and the legal costs and time required to evict fraudsters, bolstering their bottom lines. Moreover, the technology supports staff and resident security by reducing instances of fraudsters gaining entrance to properties, giving property managers peace of mind when they are alone with strangers touring vacant units.
Business impact of the IDScan.net technology
More than 13,000,000 IDs have been scanned by the CheckpointID application since 2017, leading to more than $1B in bad debt saved. Multifamily owners and operators across the country are significantly reducing bad debt due to non-payers who rent with false IDs using CheckpointID’s new ID system, powered by IDScan.net. Safety on properties has also been significantly enhanced, and property managers find that even the presence of signage indicating that CheckpointID is in use serves as a deterrent to potential criminals who may otherwise try to enter.
Additionally, property managers are using the system to scan move-ins to reconfirm that the person who toured the unit is the same person moving into the unit. As a bonus, the system provides enhanced marketing insights, such as demographic trends, helping property managers determine peak and low demand periods for staffing and promotional purposes. Lastly, MRI Software estimates that ID scanning has saved more than 65,000 manhours of staff time.
In short, the collaboration with IDScan.net has provided CheckpointID’s clients with measurable, growth-producing results and is making a real difference for owners, staff, and residents nationwide.
ID scanning for multifamily real estate
Contact MRI Software to learn more about our ID Verification and fraud prevention service for the multifamily industry.
