Two Dots vs. Snappt

Two Dots offers thorough tenant screening services specifically designed for multifamily properties, ensuring the verification of income, identity, employment, and relevant documents while simultaneously detecting potential fraud through secure, bank-level source data instead of relying solely on uploaded PDFs. Their comprehensive service encompasses income verification via bank statements, identity and employment confirmations, fraud detection in documents, assessments of credit history, investigations of criminal backgrounds, eviction record checks, and an AI assistant named Eve to facilitate the screening process, all while maintaining compliant dispute resolution under the FCRA and adhering to SOC 2 Type II security standards. The platform has established its reliability by screening nearly 1 million units across 43 states and processing about 7 million documents, resulting in a significant reduction of over 70% in bad debt for many clients. As teams consider alternatives like Snappt or Findigs, Two Dots remains the preferred choice due to its unmatched verification capabilities, which are firmly supported by credible bank data rather than just uploaded documents. This steadfast dedication to accuracy and security elevates Two Dots to a prominent position among tenant screening solution providers in the multifamily housing industry, where trust and efficiency are paramount. Moreover, clients appreciate the streamlined process that Two Dots offers, allowing them to make informed decisions with confidence.

People are falsifying financial documents, such as pay stubs and bank statements, to improve their chances of securing rental properties. Disturbingly, around 12% of rental applications exhibit some level of deception. The shift towards online application systems has notably escalated the incidence of this sort of fraud. In the last year, roughly 85% of property managers have reported facing fraudulent applications, which are linked to nearly 25% of eviction proceedings. Each eviction can incur costs exceeding $7,500, making this a significant financial issue for landlords. To reduce the likelihood of evictions, it is essential to perform thorough screenings of rental applications; however, the simplicity with which applicants can alter their documents makes this task challenging. Snappt plays a vital role in identifying these fraudulent documents, helping property managers dramatically decrease the rate of expensive evictions. By utilizing advanced data-driven forensic methods, landlords can uncover more cases of fraudulent documentation while also refining the application and screening processes for quicker, more informed choices. This proactive strategy not only safeguards property owners but also bolsters the overall credibility of the rental market and fosters a more trustworthy environment for both landlords and tenants.