New Rental Property Scam - Renters and Landlords Beware

Ok you guys, I might have a bit of an obsession with scammers. It just really gets me when people endeavor to take advantage of others. This one hits too close to home, so I have to let you know about it. I've seen a big rental property scam going around. It affects renters AND landlords, so everyone loses out! Read on or watch the video to learn how to avoid it.

How it works

Scammers steal photos from property managers or landlords' listings online and make a Facebook Marketplace post saying they have a property for rent. They end up taking the would-be renter's deposit, never to be heard from again. But they didn't actually rent the house because they weren't talking to the REAL landlord or property management company.

This actually happened to one of my clients, who owns a rental property. He saw his property being advertised on Facebook and didn't know why. I actually reached out to the person who listed it and confronted them. It turned out to be a young person who had answered a help wanted ad and was assigned to do this. So the scammers are getting over on the renter, the landlord, AND some poor person who is just trying to get a job! Disgusting!

How Renters Can Avoid This Scam

Your best bet to avoid this rental property scam is to work with a real estate agent. They look on the MLS, to see actual, official listings. They will work with the real homeowners to ensure that you're not being taken advantage of. Real estate agents have kind of an inside scoop and can typically help you find a property quickly and securely. To top it off, it is free to work with one! They are typically paid by the person listing the property. It's a win-win for everyone!

How Property Managers/Owners Can Avoid This Scam

Some landlords are starting to post a notice inside the glass of the front door or window stating that this property is only listed and shown by a specific person or entity. It might seem like overkill, but it could mean a huge difference to a renter who WANTS to rent your house. If a renter loses a deposit, that is a huge amount of money and can mean that they're not able to find a home.

Conclusion

Stay smart, stay safe, and make sure the person you're talking to is who they say they are. Please share this information with your friends, so that no one else loses their money (and chance at a home) to these scammers.