VIZpin Smart Property Systems Introduces a New Residential Fraud Alert Service

The rapid growth of multifamily properties as well as vacation rentals has introduced a new set of problems – residents sharing their credentials for profit.  Illegal Residents who are not on the lease, whether full time or vacation rentals present a serious liability and security risk.

Access control systems in general can help prevent non-authorized people from being on a property however, they depend on the residents to adhere to policies such as not sharing PIN numbers, not sharing cards or not providing others with your login information.  When a resident is complicit with the fraud, most access control systems don’t work.

Keypads are completely ineffective as the complicit resident will simply share the PIN number.  The same holds true for cards and FOBs which can be easily cloned or left for the illegal resident.  Most smart locks rely solely on a user name and password for security.  If those credentials are shared, multiple people can have the same keys to the same doors at the same time.

VIZpin Smartkeys were designed so they only work on one phone at a time.  If you transfer a key to a new phone, it stops working on the previous one.  This feature allows residents to get a new phone and securely transfer their Smartkeys to the new phone without having to re-register with property management.

Although it is enormously inconvenient for an unethical residents to constantly transfer their Smartkeys back and forth between illegal residents, it can happen which is why VIZpin introduced Resident Fraud Alert.

Resident Fraud Alert monitors how often a Smartkey is transferred between the phones and when it happens too often, the property manager receives and alert so they can take action.

“Multifamily and other markets are changing quickly.” offered Paul Bodell, President and CEO of VIZpin, “people are finding new ways of working around old systems, so we are constantly working with clients to provide services and alerts that help them improve security and operations”