Fake Paystub Generator...didn't realize this was a "thing"

Multi-Family and Apartment Investing
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Fake Paystub Generator...didn't realize this was a "thing"

Brian Adams
Syndicator of Large Apartment Buildings · Glen Mills, PA · Member since 2009 · 1k+ posts · 1k+ votes

I recently became aware of this and wanted to pass along.

My third party property management company shared with me that there are companies that provide "fake" pay stubs. We use the pay stubs to verify the prospects income to see if they qualify.

These companies also have call centers where they provide "fake" information about the prospective tenant.

I was blown away by this and when I went to Google, this is a thing.

My teams are taking extra steps to ask more questions to the prospect and doing more research.

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Linda S.
Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes
7y

@Brian Adams,

Yes, it's absolutely a thing.     A lot of people will actually just attempt to fake it themselves too, you'd be surprised that people forget things like bank account #, spellcheck, and the easiest way to see if it's fake-- it will be on microsoft word. 

If someone takes more than 1-2 days to get me their pay stubs, I immediately suspect it's because they're paying a company to generate one... also, never ever ever use the numbers given on their applications-- google  the company and get transferred to the HR dept.

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  • Linda S.
    Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes
    7y

    @Brian Adams,

    Yes, it's absolutely a thing.     A lot of people will actually just attempt to fake it themselves too, you'd be surprised that people forget things like bank account #, spellcheck, and the easiest way to see if it's fake-- it will be on microsoft word. 

    If someone takes more than 1-2 days to get me their pay stubs, I immediately suspect it's because they're paying a company to generate one... also, never ever ever use the numbers given on their applications-- google  the company and get transferred to the HR dept.

    1Reply
  • Bob B.
    Investor · Jasper GA · Member since 2015 · 1k+ posts · 1k+ votes
    7y

    You can get that and more from scammers on Craigslist.  I have the prospect show me where they receive their pay deposited into their checking account.  

    0Reply
  • Michael H.
    Investor · Kennesaw, GA · Member since 2018 · 98 posts · 127 votes
    4y

    @Brian Adams

    Did your property management tell you what steps they are taking to ensure they aren't leasing your property based on false information?

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    4y

    This has been going on for a decade+, but really ramped up during COIVD.

    We've always required a bank statement, one of the main reasons being to cross-reference payroll deposits.

    Applicants are also frauding their residence histories, usually claiming they are living with relatives, to hide the fact the haven't paid rent during COVID and are now being evicted (eviction moratoriums over).

    [email protected]248-209-6824
    Logical Property Management4.9451 Reviews
    WebsiteView Page
    1Reply
  • Account Closed
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    4y
    Quote from @Brian Adams:

    I recently became aware of this and wanted to pass along.

    My third party property management company shared with me that there are companies that provide "fake" pay stubs. We use the pay stubs to verify the prospects income to see if they qualify.

    These companies also have call centers where they provide "fake" information about the prospective tenant.

    I was blown away by this and when I went to Google, this is a thing.

    My teams are taking extra steps to ask more questions to the prospect and doing more research.

    A bit mind blowing but these are the times in which we live.

     I guess the solution is to ask the verifying party for the prospect's emergency contact and their phone number along with something not so obvious like the project they are working on or what time they clocked in yesterday morning.

    0Reply
  • William Costello
    Indianapolis, IN · Member since 2021 · 193 posts · 150 votes
    4y

    @Brian Adams unfortunately that's the way the world is. Have you contacted property management and tell them the steps about they are taking to make sure they are not leasing your property on misinformation? 

    0Reply
  • Brian Adams
    OP
    Syndicator of Large Apartment Buildings · Glen Mills, PA · Member since 2009 · 1k+ posts · 1k+ votes
    4y

    This is an old post and my PM now uses a program snappt.

    I bought a 1,000 unit apartment complex and it works well.

    1Reply
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