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  • Geebo 8:00 am on April 5, 2021 Permalink | Reply
    Tags: , lockbox, , , , ,   

    A lockbox doesn’t mean it’s not a scam 

    A lockbox doesn't mean it's not a scam

    By Greg Collier

    Many real estate services and platforms use what’s known as a lockbox on their rental properties. It is essentially an electronic box that allows access to the property. A prospective renter can then enter a code that gives them access to the keys so they can tour the property. A lockbox like this on a property can give the impression that whoever has access to the lockbox code must be a legitimate landlord. As we’re about to show you, that isn’t always true.

    A man from Louisville, Kentucky recently inquired about a home for rent that he found on Craigslist. That’s already not a good sign already as Craigslist has long been ground zero for internet scammers of many forms. Anyway, the supposed landlord told the Louisville man that the man can take a self-guided tour of the home using the Rently platform and provided a man with the code number for the lockbox.

    The man toured the home and told the Craigslist landlord he wanted to rent the home. The landlord said there would be a $2500 deposit and sent a lease to the man. The phony landlord almost got away with it too except he kept pressuring the man to pay the $2500. It was at this point that the man realized this might be a scam. The man then checked the property records of the home and discovered that the home wasn’t being rented by someone with the landlord’s name. Instead, it was being rented by a property management company.

    We’re not sure how the lockbox codes are falling into the hands of scammers unless the codes are not being changed regularly. If that’s the case, we can imagine a number of scenarios where the code number could be obtained.

    If you’re ever looking to rent a home that you’ve found online, we always recommend going to the county’s tax assessor office or website to verify who exactly owns the property. While it may take a little extra time and effort to find this information, it could save you thousands of dollars in the long run.

     
  • Geebo 8:00 am on May 7, 2019 Permalink | Reply
    Tags: , , , lockbox, , , , , ,   

    The Armslist gun sale scam and more 

    The Armslist gun sale scam and more

    We’re back again with another trio of scams to be on the lookout for.

    It seems that the much-criticized Armslist isn’t immune to scams as a woman from Western Pennsylvania has been charged with defrauding users of the website. The woman allegedly advertised several firearms for sale on the controversial site and collected the payments for them in money orders. However, she did not have any of the actual guns for sale and she’s accused of keeping all the money for herself. There’s no word on whether or not any background checks were completed on any of the victims.

    ***

    A man from Silver Lake, Washington was trying to sell his late wife’s wedding ring on craigslist when he was approached with an out-of-state offer. The man then received a bogus email stating that the money for the ring had reached his PayPal account. The man sent the ring but the money wasn’t actually there. Amazingly, after he contacted the police the ring was found in Illinois. This is a rare occurrence on the scale of a solar eclipse. Ok, maybe not that rare but it is remarkable that the man was able to get the ring back as in most cases once the item has been shipped it’s usually gone forever. In most cases, you should only deal locally and only in cash and when completing the transaction it should be done at a local police station.

    ***

    Lastly for today, a rental scam that we’ve discussed before has started popping up again and that’s the lockbox scam. The scam works like the typical rental scam where someone claiming to be a landlord will rent you a property sight unseen if you wire them a deposit. With the lockbox scam, the phony landlords have somehow gained access to the realtor’s lockbox on the property that contains a key to the home. A family in Phoenix, Arizona recently fell for this scam and even moved into the property after wiring their money to a scammer. Sadly, they had to be evicted from the property. Under no circumstance should you ever wire funds to someone you’ve never met. Most legitimate property managers will do background checks on prospective renters and will meet them in person.

     
  • Geebo 10:03 am on November 13, 2017 Permalink | Reply
    Tags: lockbox, , ,   

    Beware of lockbox rental scams 

    Beware of lockbox rental scams

    Reports have come out of the Treasure Valley section of Idaho where a new rental property scam has been taking place. The new scam starts out as the usual rental scam with the scammers copying a legitimate real estate ad then pasting it on to less than trustworthy classifieds sites. However, the scam takes a new twist when it comes to accessing the electronic lockbox used to secure the property for realtors and landlords. Specifically, the scammers have been targeting lockboxes given out by a company called Rently.

    Here’s how the lockboxes are normally supposed to work…

    Unfortunately, victims of the scam then give out the Rently access code to the scammers. The scammers then get access to the property and are able to show it to prospective victims like they own the property which makes it easier for scammers to ask victims for money in the form of non-existent security deposits and the like.

    If you’re looking for a property and end up needing to use one of these electronic lockbox devices, don’t ever give out the security access code to third parties. Also, you may think that since this scam is happening nowhere near you it can’t affect you, but if it’s happening in one area of the country there’s a good chance it could be happening in multiple locales.

     
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