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More than 93 percent of multifamily property owners have experienced rental fraud within the past year, but a startup that provides access to a network of verified renters hopes to change that.
Author: Brad Randall, Broadband Community
A network of verified renters will soon be available to the multifamily housing industry, according to Karen Maio, CEO of Startup 100, which wants to eliminate bias and fraud against multifamily property owners. That’s what it means.
Maio touted his company’s services earlier this week at the 2024 OPTECH Conference & Expo in National Harbor, Maryland.
According to Maio, 100 offers the first renter verified network thanks to a partnership with CLEAR, a technology company that provides traveler verification services commonly used at airports.
“The same people who keep us safe in the air are also keeping us safe on the ground,” she said.
Maio said the software analyzes renters based on key points such as identity, income and background.
“For operators, it provides a group of verified renters who are ready and willing to make false claims, make claims, and keep their promises,” she said. said.
At OPTECH, Maio said 100 companies should not be viewed as just a scam company.
“Most scam companies have been around for years. So if they were effective, would we be here now?” she asked.
He said rental fraud costs the multifamily housing industry billions of dollars annually, and the problem is expected to become even more costly in the future.
The company’s debut at OPTECH is the latest momentum for this new startup.
A week ago, venture capital firm MetaProp announced $5.2 million in pre-seed funding for 100 deals, saying its landlord network is “reimagining tenant screening for a more efficient and secure future.” said.
Derek Gottfried, CLEAR’s chief product officer, said in a statement posted on 100’s website that his company is excited to partner with 100.
“We are excited to work with 100 to enhance efficiency and security for real estate agents and provide renters with a smoother experience when choosing a new home,” he said.
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