ID verification vs. ID parsing
With rental fraud becoming an increasingly prevalent issue, it’s more important than ever for property management companies to take action. Many companies use ID parsing, but unfortunately, this is still not effective enough, as fake IDs can pass through this system. We provide an online ID verification software that uses sophisticated technology to accurately verify prospective tenants in seconds. If you’re unfamiliar with what the difference is between ID verification and ID parsing, we’re here to break it down for you. Keep reading to learn more about these 2 methods, and why ID verification is more beneficial for the multi-family housing industry.
What is ID parsing
ID Parsing uses parsing technology to detect whether all fields on an ID have entries, or not. This includes name, age, gender, and address. If all of these fields have an entry, the ID will read as valid. Therefore, this means that if a fake ID has all entries, even if they’re false, it’ll pass. This is why many companies run into issues with rental fraud.
What is ID verification
ID verification takes it a step further than parsing. ID verification uses technology to detect not only if all the fields on an ID have an entry, but also matches the entries against global ID databases to ensure that the entries are accurate. The entries submitted have to be correct in order for it to read valid. Therefore, fake IDs of any kind would fail using our ID verification software. It is extremely difficult for lighter screening solutions to detect front and back forgery on IDs, as our system does. With CheckpointID, you can verify IDs before tours and catch fraud before the tour and application process begins. This saves companies a great amount of time and money in the long run.
What’re the benefits of Checkpoint ID?
At Checkpoint ID, we provide an accurate and objective verification method to protect your financial investment, as well as your staff and residents. With our online ID verification method, you know exactly who is entering your property at the time of the tour, and who you’re renting to. This improves leasing safety, giving your employees peace of mind knowing that they’re providing tours to the right guests. Using ID verification, you can avoid the hassle of dealing with high-risk renters, reduce bad debt, and cut down on collections. We’re the only ID verification software that scans against global identity databases to ensure accuracy. CheckpointID is also Fair Housing Compliant. Our mission is to work with the multi-family housing industry to provide a safer rental process and act as an effective barrier against fraudulent renters.
To learn more about how CheckpointID works, contact us today! We’ll walk you through our user-friendly online ID verification process and answer any questions you may have. Fill out an online form to get started.
Sares Regis Group protects communities and stakeholders with ID verification
Founded in 1993, Sares Regis Group offers vertically integrated asset management. They draw on over 30 years of real estate experience to build, market, manage, and maintain communities that remain attractive to customers while ensuring top performance for owners. Business Challenge: SRG management were seeing abnormally high rates of bad debt at three properties in … Continued