RENTERS BEWARE!!!

RENTERS BEWARE!

We are getting off the coaching topic today and sharing some INTEL on a potential threat which has started to show up in some of our offices.

THE RENTAL SCAM:

Here is the scenario…The potential renter sees and ad for a great rental property and the monthly rent is very reasonable. They contact the “owner” and are told they are out of town and for them to go “peek” in the windows to see if they like it. The renter goes by and sees a real estate sign in the yard… looks around likes what they see and contacts the “owner” to rent the property. The “owner” then tells the renter they will hold the property for them if they will send the deposit and first months’ rent to Ima Crook, PO Box 666, Nerdowell Miss 22552. Once the rent is received they will mail the renter the keys and the rental contract…Seems simple doesn’t it?

The renter gets a good house at a good price and the owner trusts them so much he is allowing them to move in right away. Which oh by the way… the “owner” also got the renters SS#, DL#, Birth Date, and will also have the renters checking account number once the check is FED-EX’ed to them… Are any red flags waving yet?

SO… a few days go by, and the renter is getting antsy, so they try and contact the “owner” again but gets no response…so they go by the house and call the name on the real estate sign…only to discover Ima Crook is not the owner of the property and that the property was leased to another renter the day before through the REALTOR…The distraught renter rushes to their bank only to discover the check for $2500 to Ima Crook has been cashed…they then realize they have been scammed. And GOD only knows what Ima Crook is going to do with the personal information she also has possession of!

Sound like a fairy tale? Unfortunately it is a true story that is happening far too often right here in the Triangle.

Here are some things to do to avoid this happening…As a listing agent:

Perform a Google search and a Craig's List search for the property address of all your listings every few weeks, this may help alert you to possible scammers using your property addresses for evil deeds. Should you discover something, contact the false owner acting as a potential renter getting as much Intel as possible. Then contact Local Law Enforcement.

This is a hot scam right now; advise all your Seller/Landlord clients this is happening and the steps you are taking to thwart the bad guys. This scam is usually performed on vacant properties but could be on any property the scammer decides to target.

As a Renter…Here are some things to alert you to possible scammers:

-Rental Ad is on Craig’s List without a phone number… just a blind email response through Craig’s List

-Lower than market rent rate...(If it seems too good to be true…it usually is!)

-“Owner” out of town with no local management company

-“Owner” wants you to send them a certified “deposit” check without meeting renter face to face or doing a credit/ back-ground check

-Can’t give direct access to the property

-Always ask for proper ID from owner, then cross reference tax data base for owners actual name…also ask for phone number and address...then call back to verify…if the owner cannot produce proper ID…RUN AWAY!

-and most importantly….USE A PROFESSIONAL REALTOR to assist in rental searches, this way you are assured you are dealing with the real owner…

I hope this helps… Feel free to use the above data as an Item of Value to send to your clients
Please post comments here for others to see if you have experienced this with your listings

Eddie Brown

www.ICU-Coaching.com