Could you recognize a rental scam if you saw one? Rental scams have become a major problem in the rental industry, as scammers have found creative ways to use online rental postings to lure unsuspecting tenants. There are a few different versions of the rental scam, but it basically works like this:
Scammers take property descriptions and images from existing and legitimate postings for rental and sales properties. They re-purpose the information for their own online scam post. The potential tenant finds the property online and is none the wiser that they are reaching out to a scammer. The scammer typically claims to be temporarily out of the country, so the only opportunity to view the property is via a drive-by. Getting the keys to the property only requires a wire transfer deposit to for the application fee, security deposit or first month’s rent.
Before the potential tenant realizes, the scam has been completed. The wired money is lost and the scammer is long gone. Rental scams happen every day and it’s unfortunate to hear about the loss and suffering they cause. But there are ways to combat these scams.
Simply Residential Property Managment does all it can to minimize a scammer’s opportunity to scam tenants. But we also encourage tenants to be vigilant, knowing the warning signs of a rental scam.
Finding the right rental property should be an exciting life event. If you feel you have uncovered a rental scam involving Simply Residential Property Management, please reach out to us immediately.