Scam artists pose as potential renters everyday on many different "by owner" websites. Why? Because it works! Learn to spot common warning signs of many rental scams.
Everyday individuals approach property owners using the internet via email posing as renters in an attempt to swindle unsuspecting owners out of large sums of money. These scams will continue as long as they fool a small portion of property owners. The best defense against rental schemes is to be informed and remain alert. It is important to know that Cashier's Checks, Money Orders, Certified Checks, as well as Personal Checks can all be forged. Scammers are very sophisticated and even some banks are fooled by forged documents, until they try to collect the funds.
There are several WARNING SIGNS that indicate that a rental inquiry may be a scam. Note that a fraudulent rental lead may exhibit only one or possibly none of these warning signs during the first contact. You may have several back and forth communications before you receive a warning sign. Below you will find the most common warning signs of scams.
1. WARNING SIGN: The potential renter's check comes from an underdeveloped or third world country but some are coming from developed countries as well. It can take a bank up to 8 weeks to verify funds from a check coming from a remote bank or account. Normally, a bank can verify funds from a check in about 2 weeks when it is coming from a developed country. There have been several recent accounts of this scam coming from developed countries in Europe also. Take precautions with all rental leads and remain alert! SOLUTION: Let the potential renter know that their check must clear before they may rent your property.
2. WARNING SIGN: For whatever reason given, the potential renter wants to send you a check for a large sum of money in excess of the rent due. They may give one of the following reasons why they have this "suspiciously large" check to send: wedding gift, honeymoon, payment from a trust fund, bonus from their employer, or gift of another type. If you deposit this check they will ask you to wire the difference back to them immediately. You may be hounded and possibly threatened to return the excess funds. Keep in mind that a bad check may also be for the exact amount due. SOLUTION: Let the potential renter know that you will only accept a check for the exact amount of the rent due and that their check must clear before they may rent your property.
3. WARNING SIGN: The renter wants to rent your property in the very near future, giving your bank and you less time to verify the funds from their check. SOLUTION: Let the potential renter know that they must provide funds that clear the bank before they may rent your property.
4. WARNING SIGN: The renter would like to rent your property for an unusually long period of time compared to the average rental period of your other renters. The time of year requested may be an unusual time to rent a property in your area (not the normal season). This can be an indication that the individual is contacting many owners on a site indiscriminately. SOLUTION: Keep other warning signs in mind when replying to this individual.
5. WARNING SIGN: They may attempt to ease your suspicions by letting you know that they are a professional in their country?.Doctor, Scientist, etc. and might even provide you with an official sounding Company name to verify their employment. They may be offering TOO much information in hopes that you sympathize with them. SOLUTION: Let the potential renter know that they must provide funds that clear the bank before they may rent your property.
6. WARNING SIGN: The funds they want use, will be coming from someone or somewhere else: a boss, business partner, or relative. Sometimes the check comes directly from them. SOLUTION: Let the potential renter know that you will only accept a check for the amount of the rent and that their check must clear before they may rent your property.
7. WARNING SIGN: The renter would like to wire the money directly into your account. Don't ever give anyone personal information including bank account numbers or Social Security numbers unless you don't mind losing your identity! SOLUTION: Consult your bank and ask them for the best way to wire funds safely and economically.
8. WARNING SIGN: Their communication with you is poorly written, with several grammatical and spelling errors. In some cases it is difficult to figure out exactly what they are requesting. SOLUTION: Let the potential renter know that you will only accept a check for the exact amount of the rent due and that their check must clear before they may rent your property.
Owners experiencing one or more of these warning signs from a potential renter should proceed with caution. It is important to remember savvy scammers will make every effort to gain your trust. The warning sign(s) may arise after several contacts. We can help deter this criminal activity by sharing our knowledge with others. If we work together, these scams will not succeed.
http://www.ppbo.com
Paradise Properties by Owner
Valencia is the third city of Spain, by number of... Read More
More often than not, a person will base his or... Read More
What is the meaning of a "dream vacation"? What is... Read More
Bahamas vacation villas are the way to go if you... Read More
After France, Spain is Europe's most popular holiday destination, and... Read More
No visit to Thailand is complete without visiting the city... Read More
Made famous by Revolutionary events, infamous by cold winters, and... Read More
Holiday time is around the corner and its time to... Read More
Because many people want to live in or near Lake... Read More
Whether you've saved up for years for a fun family... Read More
Cozumel has something to suit the tastes and budgets of... Read More
Many vacation spots purport to offer true relaxation, but upon... Read More
Punta Cana Beaches are among the most beautiful in the... Read More
Hilton Head Island is a vacation destination for over two... Read More
Have you ever wanted to travel to far away places... Read More
Vacation rentals are an option when you plan to go... Read More
Did you know that staying in a vacation cabin rental... Read More
When you travel abroad, especially far away from home you... Read More
Summer vacations - what better topic could there be for... Read More
When vacation time rolls around, some people choose to stay... Read More
Thailand is a popular golf paradise and home to many... Read More
You have your tickets, your hotel or vacation rental reservations,... Read More
Gatlinburg cabin rental options range from old-fashioned rustic "log cabins"... Read More
Seasoned travelers often tire of the standard routine of airplane,... Read More
This may seem like a very strange title for an... Read More
limo O'Hare Glen Ellyn ..What makes certain styles of pants so popular? One reason... Read More
Pigeon Forge is rapidly becoming one of the major tourist... Read More
Aphrodite's Hot SpotEuropean Road Trip AdventuresCyprus. Yes, it is a... Read More
The typical scenario goes something like this: your casual mention... Read More
Sunscape The Beach Punta Cana is located on the north... Read More
RV rental vacations aren't cheap, but they do contain loads... Read More
When it comes to shopping for something on-line, we tend... Read More
Disney Area Lodging DealsThe Orlando area communities of Lake Buena... Read More
We are planning a family trip for just a few... Read More
Cairns Rainforest Retreat is ideally located for your unique rainforest... Read More
Did you ever worry when traveling about the weather? Most... Read More
What kind of traveler are you? Do you want everything... Read More
There are many wonderful resorts with tons of activity in... Read More
Orlando is calling to you and your family to come... Read More
Spent a fantastic trip going down the Oregon Coast to... Read More
"I'm coming home. I've been away too long. Been away... Read More
Aquitaine with its 5 departments; Dordogne, Gironde, Landes, Lot-et-Garonne, Pyr?n?es-Atlantiques.Weather:... Read More
The bed and breakfast experience is unique. You get the... Read More
Most of the time, when an individual is planning a... Read More
Many times, when we plan a vacation, we know where... Read More
The county of Dorset on England's south coast is a... Read More
So you may be asking yourself, why would I want... Read More
Cambodia is a land on the mend. From 1977 through... Read More
How many of you have seen the classic Chevy Chase... Read More
Disneyland became the very definition of a theme park and... Read More
Vacation Rental |