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The Federal Trade Commission (FTC) recently published an advisory on how to avoid rental scams. Scams include hijacking a real rental listing by changing the email address or other contact information and then placing the altered ad on another site. Others gain access to keys in lock boxes, make copies, and pose as legitimate rental agents. Still others may list a property that’s already leased and then try to collect application fees, security deposits, and even the first month’s rent.
Tips on how to avoid scams include the following:
~Is the rent a lot less than comparable rentals?
~Is the property listed for different prices on different websites?
If there is a sign or flyer in the rental, call the leasing office to make sure the person posing as the owner or leasing agent is legit.
The FTC also recommends:
Never pay with cash, wire transfers or gift cards. If anyone tells you to pay this way, it’s a sure sign of a scam. Wiring money is like sending cash – once you send it, you have no way to get it back.
We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!
Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.
