Scammers reportedly have targeted potential renters in Eastern Idaho via Craigslist. Murdock and Manwaring Realty Group said they’ve had at least three of their listings affected by this scam.
Although the scam will likely be shortlived, what is the scam and what signs should people recognize to avoid a similar scam in their search for a place to rent.
How Does the Scam Work?
Scammers are taking on fake personas to steal money from the potential renters who fall for their offers of renting out a home. They put their ads on the website Craigslist and pretend to be the owner of a vacant home up for sale.
They say they want to rent the home for a very low price. Finally, they request the renter send a deposit before they even send a key for a tour of the home. Much of the interaction involved in the scams are done via email, so buyers who are involved in the scam are not even able to identify the perpetrator.
“What they’re trying to do is they’re trying to get them to send them a deposit,” Chad Murdock of Murdock and Manwaring Realty Group, said. “And basically act quickly based on emotion to get the home under contract for a rental and then they never hear from them again.”
Murdock also advises another way of checking for a possible scam is seeing if there is still a “For Sale” sign out in the yard. If it’s still there, then it is a scam.
As scams like these become an increasingly dangerous reality for many would-be renters, perhaps help, information and protection are just a few things to put in mind to avoid being a victim.
Why Renters Insurance is Important
As a renter, there are a lot of things you need to look out for when you are buying insurance.
For example, if you are living in an apartment, your possessions are not protected by your landlord’s insurance policy.
You need to have your own policy to protect your own belongings. Most renters do not know this and end up being out of luck when something bad happens.
So, now you are wondering, “What am I protecting myself against?”
Renters Insurance should include three specific types of coverage:
- Personal Property Coverage, which will reimburse you if your personal belongings, such as clothing and furniture, are stolen or damaged by something like a fire.
- Family Liability Protection, which will help pay for another person’s property that you are at fault for damaging
- Guest Medical Protection, which will help pay medical expenses for someone who is injured in your residence.
- The right type of renters insurance will be the first step as a potential renter, along with protecting your funds from possible scammers.