Market Trends & Challenges - The US housing market faces an imbalance with an oversupply of luxury apartments and a shortage of affordable units [1] - Renting a two-bedroom apartment in Atlanta costs approximately $2,000 per month, exceeding the affordability of typical renters [2] - Fraudulent rental applications are becoming increasingly common across the US, with individuals using fake financial documents to secure luxury apartments [1][2] Fraudulent Activities & Risks - Some promoters offer fraudulent rental application packages for hundreds of dollars, including fake financial documents, social security numbers, and employment letters [3] - A national landlord estimates that up to 50% of rental applications are fraudulent in some buildings [3] - Such fraud can lead to criminal or civil penalties [3] Landlord Responses & Impact - Landlords often prioritize eviction over legal action due to the difficulty of recovering damages from tenants unable to pay rent [4] - Evictions are recorded on a renter's apartment history, potentially hindering future rental approvals [4] - Apartment owners reported an average 40% increase in application and payment fraud for rentals last year (2023) compared to 2023 [4]