Beware the fraudsters!

By Thersa Grant/Real Estate Columnist We’ve all heard the heart wrenching stories of people who’ve been duped out of several hundred or a few thousand dollars by unscrupulous fraudsters advertising properties for rent that they do not own. How does one protect themselves so that they do not fall victim to such a scam? It can be difficult, as these fraudsters have become somewhat advanced over the years, in terms of how they advertise. With the introduction of artificial intelligence it will only get more difficult to discern fact from fiction. There are generally two types of rental fraud out there. The first is someone renting a unit briefly and advertising it as a long term rental, while pretending to be the Landlord. In this situation, the perpetrator will take first and last month’s rent from someone, along with a key deposit of a few hundred dollars, a damage deposit, in some cases an upcharge for parking or other things. This can total several thousand dollars. The second and perhaps more easily detectable is the situation whereby a property is advertised, it looks amazing and is being offered at a ridiculously low rent. When someone contacts the supposed owner of this property, they are told that the owners, often a couple, are on a mission with their church and out of the country currently. In some cases, they are told that the supposed owners have had some sort of family emergency and are out of the country. They are told stories that would make the average person think they are dealing with a kind, generous, compassionate person. When in reality they are dealing with the exact opposite. In this scenario, the entire transaction takes place online. Money is sent to the fictious owner of the property in advance. The would-be tenants are shown beautiful pictures of what they will be renting, told a story of how they will be helping the owners, just by living there and taking care of this property for them while they are out of the country. They are told that the keys will be ready for them on moving day. There is usually a family member of caretaker going to drop off the keys, but they cannot get there at the moment as they live out of town. They are led to believe that they are part of some amazing win- win situation. These fraudsters prey on people. They take advantage of people’s sense of hope. Everyone likes a bargain. Everyone is looking the for the best deal they can get. Everyone needs a home. We’ve all heard the saying, if it sounds too good to be true, it probably is. That is the truth. However, people will always hope against hope that maybe, just this once, this is the real deal. It usually never is. There are a few things you can do to protect yourself. First of all, never ever send money in advance of viewing a property in person. Google the address of the place for rent. Google the name of the person calling themselves the Landlord. Although it may seem unusual or even uncomfortable, ask the person purporting to be the Landlord for some kind of identification. Landlords are acutely aware of the degree of fraud taking place in the rental market today. Most would not be offended or insulted by making such a request. If you are on site, look around and ask questions. Landlords are happy to answer your questions because they are looking for the right tenants. Scam artists don’t like questions, they will try to rush you, and make you feel as though if you don’t act now, you may lose out on this amazing property. They will often say that you need to act fast because there are several people wanting this space. Keep in mind, great spaces at reasonable prices don’t need to be forced or pushed on people. If you are feeling pressured in any way, let that speak volumes. Heed your inner voice and remove yourself from the situation, with your money still in your bank account. If you find yourself caught up in a fraudulent rental scam, contact your local authorities to report the incident. Questions? Story ideas? You may reach me at: email newspaper@ocentral.com