Greg's Corner

COVID-related rental scams continue

The ongoing pandemic has had at least one positive effect. Rental fees in the San Francisco Bay Area have gone down. Since the Bay Area is one of the most expensive places to live in the country, this is a needed relief for those looking for housing there. However, the new lower rents make this a veritable field day for rental scammers.

Rental scammers normally use lower than market value rents in the fraudulent listings. With the current market in the Bay Area already at new lows, it makes it harder to spot a scammer. Also thanks to the pandemic, rental scammers have been using social distancing as an excuse not to meet with their victims.

A San Francisco couple found a listing for an apartment on Craigslist that was bigger than the one they had, but the new apartment had a cheaper rent. They contacted the supposed rental agent from the contact listing. He told the couple to download an app that would allow them access to tour the apartment by themselves. While they toured the apartment the rental agent was talking to them through FaceTime the entire time.

The couple agreed to move in and the agent requested first months rent and a deposit which amounted to $6000. Later, the agent asked them how much rent they could pay in advance. Begrudgingly, the couple agreed to pay another $6000 up front. Then the agent requested another $1500 which the couple agreed to $750.

As you’ve probably guessed by now, the couple went to move in on January 1st only to find that the apartment had been rented to someone else. The Craigslist listing was a fake. That left the couple out close to $13,000. Even for a successful Bay Area couple, that isn’t exactly small potatoes.

No matter how legitimate someone may seem, there’s always the potential that you’re being scammed when trying to rent a property. As always, we recommend doing as much research as possible before entering to any agreement on a property. Do a reverse image search to make sure the pictures on the listing aren’t stolen from a realtor. Plus, you should always check with the county’s tax assessor’s office or website to find out who the true property owner or realtor is. While research may be time-consuming, it could save you thousands of dollars in the end.