Some Tips On How to Detect and Prevent Fraud at Your Rental

[Jon L.]

Here's what your should be looking out for at your rental property: 

Scammers will sometimes list a rental property that isn't their own on Craigslist or another open listing site that has vert limited restrictions. Some websites even allow a user to easily list real estate services (leasing or selling) easily where they will try to list or lease a property for below market value. If you see something listed for way below market value, it's probably too good to be true. 

 Scammers will also enter a property during a self-showing appointment and make a copy of the house key to later meet prospective tenants at the property, pose as a property manager and then conduct a home tour with the prospective tenant illegaly. 

 Scammers will sometime create fake applications that require security deposits above the legal limit for the region in which they live and then steal and deposit this money from residents.

Here’s are some ways you can prevent fraud from happening to you and your rental properties.

 Utilize Information Technology : If you use an independent website to rent out your properties, make sure your website is secure. Utilize firewalls to make it difficult for hackers to view your activity on your website or contact an IT professional to audit your website to make sure it is secure.

 Use ID Verification and Facial Recognition: Apps like OnFido (an identity-verification provider that uses facial-recognition software to ensure you are who you say you are when you visit a property for a self-showing) can help combat ID fraud for scammers interested in pulling a fast one on you. Additionally, you should always request a copy of residents state-issued government ID, driver’s license or passport and a headshot and selfie.

Utilize Two-Factor Authentication : If you use your own website, you can have your IT professional help you set up an algorithm to create a 'blocklist' that allows you to see if a someone is attempting to book a self showings in multiple areas at one time. If the same phone number is used for different rentals or different people at the same time at multiple properties- it could be someone trying to scam you.

 Advertising Intelligently: Be weary of advertising on certain websites. Some of the most fraudulent   sites include Craigslist and Facebook Marketplace.