N o H o 14
N o H o 14
2 Pages| JUNE, 2020 NoHo 14 CASE STUDY However, like many residential rental properties, NoHo 14 had a problem with fraud. “All of North Hollywood is challenged by fraud,” according to Johnson. “We see 6 or 7 applications a week that have been fraudulently altered. We see fake pay stubs and altered bank statements all the time, but the fraud is hard to spot with the naked eye.” NoHo 14 saw more than $500,000 in fraud-related losses last year. Costs included eviction costs and unpaid rent. They aren’t alone in seeing fraudulently-altered financial documentation. “There are a lot of factors that are causing application fraud to grow,” says Daniel Berlind, CEO of LA-based Snappt. “There is an abundance of tools that make it easy for applicants to fudge their information. The move to a
