The Federal Trade Commission (FTC) has issued a warning about online rental scams to those looking for a place to live or vacation.
Finding an apartment or house that is affordable and available to rent can often be a challenge. Scammers take advantage of this by creating fake online rental listings and posing as the landlord or rental company. To add legitimacy, they may copy information and photos from existing rental listings or use an appealing property address that is not actually for rent.
To avoid this scam:
- Be skeptical of unusually low rent – scammers may use a price that seems too good to be true to attract attention.
- Don’t make a deposit without checking it out in person – scammers often try to pressure you into paying a deposit quickly to secure the rental. Tour the property in person (or send a trusted friend) and verify the landlord or company beforehand.
- Perform online research on the address – Does it come up with alternative owners? Is it reported as a scam on other sites?
Most importantly, trust your gut. If something looks suspicious, it likely is a scam. Additionally, no legitimate landlord will ask for payment by wire transfer, gift card or cryptocurrency.
Visit the FTC alert at consumer.ftc.gov/consumer-alerts/2024/03/how-spot-hard-spot-rental-scams or the Better Business Article at bbb.org/article/scams/16908-scam-alert-rental-cons-cash-in-on-stressed-out-movers to learn more.
If you are a MVSB customer and you are concerned you sent money or provided personal information to a scammer, please call us directly at 800.922.6872 so that we can assist you with protecting your accounts and identity.
