{"id":4770,"date":"2022-04-14T00:52:41","date_gmt":"2022-04-14T00:52:41","guid":{"rendered":"https:\/\/forsaleinbarrie.ca\/?p=4770"},"modified":"2022-04-14T01:00:35","modified_gmt":"2022-04-14T01:00:35","slug":"5-signs-of-a-rental-scam","status":"publish","type":"post","link":"https:\/\/forsaleinbarrie.ca\/index.php\/2022\/04\/14\/5-signs-of-a-rental-scam\/","title":{"rendered":"5 Signs Of A Rental Scam"},"content":{"rendered":"\n

Sadly, across Ontario and even our communities, Rental scams are becoming more and more common place. We\u2019ve put together some information that will help you understand how the scam works and what to look out for. <\/p>\n\n\n\n

If you\u2019re on the hunt for a new rental home, you now need to be vigilant about a new type of rental scam proliferating online. Fraudsters are finding new ways to trick would-be tenants into falling for phony online ads. This scam can bilk prospective tenants out of money and time, plus cause undue stress to owners of the properties being listed fraudulently.<\/p>\n\n\n\n

How The Scam Works<\/h3>\n\n\n\n

Basically, these rent scammers are taking photos of properties that are already online, on housing sites like MLS or realtor.ca, and using those photos to create fake rentals ad. They usually offer the rental well below market rates to attract interest, making it one of those \u201ctoo good to be true\u201d scenarios. <\/p>\n\n\n\n

When curious tenants start inquiring about the ad, the fraudsters will likely give suspicious reasons why they can\u2019t meet you in person. For example, they are \u201cout-of-town\u201d and unable to show you the vacancy. The fraudsters will then ask you to send them a security deposit or the first month\u2019s rent via wire transfer. They might even pressure you by saying other applicants are interested in the property. Sometimes the scammers will entice you with a discount if you send more than the first month\u2019s rent.<\/p>\n\n\n\n

The money requests are usually to be transferred via MoneyGram, Western Union or even a gift card. But once you send that money out of the country \u2013 say goodbye because it will be virtually impossible to get back.<\/p>\n\n\n\n

Rent scams on the rise<\/h3>\n\n\n\n

According to a 2020 report<\/a>, an Ontario man had his home unknowingly put online by rent scammers using photos of his property, which was in the process of being for sale. Would-be tenants began knocking on his door asking about the property and one even said they already sent a $1,000 deposit. <\/p>\n\n\n\n

It\u2019s all part of a disturbing trend of rental scams taking advantage of tenants looking for a home. The Canadian Anti-Fraud Centre says that Canadians have lost $1.4 million in the last three years to these online rental scams. The Better Business Bureau claims that 50% of those looking for a rental home will likely encounter these types of online scams on sites like Craigslist, Kijiji and Facebook.<\/p>\n\n\n\n

5 red flags of a rental scam <\/h3>\n\n\n\n
  1. The first red flag to watch for is the price. If this is a nice property, way below the market rate, it could be a scam. Of course, it could be a great deal too, but make sure you should investigate it thoroughly.<\/li>
  2. The \u201cowners\u201d of the property say they are out of the country, or out of town. Remember: it\u2019s highly unlikely a landlord would list a rental and then leave town.<\/li>
  3. If the listing\u2019s photos are vague, and only show the outside of the property, it could be a scam. A good landlord will post quality images of the inside and outside. And if you see a \u201cfor sale\u201d sign in the photo, you should probably avoid it.<\/li>
  4. Any requests for security deposits or first-month instalment, without a formal rental agreement, should be met with deep skepticism, especially if it\u2019s through a wire transfer like MoneyGram or Western Union going outside the country. Gift cards are another major red flag.<\/li>
  5. If the alleged owner wants to communicate with you outside the rental platform or direct you to a website asking for personal or financial information, then you should turn and run away (virtually). <\/li><\/ol>\n\n\n\n

    How to stay safe from rental scammers<\/h3>\n\n\n\n

    Searching for a rental home can be challenging on its own without having to deal with scam artists trying to steal your money. Here are some tips on how you can protect yourself from these online vultures.<\/p>\n\n\n\n