Rental Scams
Rental scams are a big Problem. People in Cedar Rapids are getting ripped off because of a fake housing ad online. It’s happening through Craigslist with one home in particular.
They claimed to be the homeowner and said they’re out of town. It’s actually being sold by Skogman Realty. The company said this kind of ruse is common and people need to do their homework when searching online.
“If you have a vacant house, in particular, get ahold of whoever’s name is on that for rent or not,” said Skogman Realtor Pat Murphy. “You can also go to the assessor’s site to get information about that and talk to the seller directly and find out if that actually is a rental house or not.”
Murphy said three people have already fallen victim to the scam. Alicia Davidson was almost the fourth until her mom stepped in.
Rental Scams Are a Big Problem
Apartment List, a website dedicated to matching renters with the right property, estimates that 5.2 million U.S. renters have lost money due to rental scams.
The company ran a national survey of 1,000 renters to take a look at the impact of rental scams. Apartment List found that just a tick over 43 percent of those renters encountered a fraudulent listing, with over 6 percent of them losing money.
The survey also found that across the board young renters, those between the ages of 19 to 29, were most likely to have encountered a suspicious listing, contact a fraudulent listing, lose money from scam and sign a bogus lease.
What Are the Most Common Scams?
According to Apartment List, some of the most common rental scams are:
- Bait-and-Switch: Renter is shown one unit but signs for another.
- Already Leased: Renter pays collection fees or security deposits on a unit already leased.
- Hijacked Ads: Fake ads for real properties, usually homes for sale, where the contact info has been altered.
- Phantom Rentals: Made up listings on places that aren’t real or actually up for rent.
- I’ll Mail You the Keys: When the alleged property owner states they are out of town or the country, and they will need to mail you the keys.
So How Do You Protect Yourself from Rental Scams?
- Payment Methods: Always pay with a credit card for the consumer protections they provide. Don’t pay by cash, check or wire transfer, which are all payment methods scammers lean on.
- Property and Owner Verification: Trip Savvy recommends renters use Google Maps or similar services to make sure the property actually exists. Renters should also look up the owner or property manager and check if they’re apart of any renter associations.
- The Reader’s Digest says It’s not uncommon for renters to do a drive-by to see if the house looks as good as it does in the photos. But what if the property has a sign out front from a realtor or property management that doesn’t match up with the “landlord” you’ve been talking to?
- You see spelling or grammer errors in the ad. That’s a clue that this is a scam.
- if there’s a number one rule to follow, it’s the most cliche: “Is this deal too good to be true?”
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PHOTO: Taylor Realty Group