Friday, January 9, 2015

Rental SCAM - Public Service Announcement

The St. Mary's County Sheriff's Office recently received a complaint regarding a rental scam. Although this scam is not new, the SMCSO would like to remind prospective renters to be on the lookout. 

Scammers are creating fictitious rental listings and posting them on websites such as Zillow.com and Trulia.com. They copy legitimate graphics from realty companies such as Century 21 or Remax and save images and details of real listings. These fictitious listings are for real properties for rent, however the scammer creates a fictitious listing to route communication and money to them. The potential renter contacts the person listing the home for rent and is typically asked to MAIL a security deposit; in return the keys to the property will be mailed to the person renting the property. The renter never receives the keys and is out their deposit money. 

What to look for?

- The listing price. If the listing price is substantially below market value for the area where the home is located or for the type of home listed; both are strong indicators the listing is a scam. For example: If the rental home is a 6,000 square foot waterfront property listed for $500.00 a month rent with a $300.00 security deposit. Monthly rent/security deposit for this scale of a home is typically much more. Check listings for property values of other homes in the area and compare the prices. A scammer's price is typically much lower than it should be.   

- If the contact phone number for the person listing the home for rent is out of state and does not belong to a local Realtor - a possible indicator. 

- If you are to receive the keys to the home by mail. No legitimate Realtor will send keys to a renter through the mail. 

- If no photo and/or name of the listing agent is posted with the contact information.

 What can you do?

- If you suspect a listing to be fraudulent, you can file a complaint on the website listing the property. Zillow and Trulia both have complaint forms on their websites. 

- DO YOUR HOMEWORK. It will pay off.

- Work with legitimate Realtors. A legit Realtor will be able to provide you with information confirming who they are.