Some of the statistics in the article are astounding. Rental fraud has been reported by 75% of all operators over the past 12 months. Manipulated identities, misrepresented income, and identity theft were reported by 50% of operator respondents. And nearly all, 97%, reported fraud as a top priority at their companies but only 17% had a portfolio fraud prevention initiative at their firm. Over 70% said they didn’t detect rental fraud until after the resident had moved into their unit. Finally, 77% of respondents said fraud had reduced income/increased expenses by 10% – 20%.

 

 

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.

 

Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.