RENT Magazine Q3 '21

In the same vein, a tenant might “accidentally” write a rent check in an amount larger than their agreed-upon rent and then request that you refund them the overpayment. Another red flag moment is when you receive a phone call or email from someone who is being moved to your area by their employer. They say they want to rent your property and that the employer will send a check to more than cover the move-in costs. To avoid this type of thievery, never accept more money than the specified rent for your property and do not accept an out-of-state cashier’s or paper check, especially if it is for more than you are due. Meet your tenant in person; don’t accept an applicant who only communicates by phone or email. And always run a credit report and obtain a thorough background check.

#5 Overpaying the Deposit or Rent There are several versions of this swindle. They may involve wiring too much money for the security deposit and/or paying with a check for more than the amount owed. In the wire transfer instance, the landlord is sent a fake check that is for more than the initial rent and fees. The renter then requests that the extra funds be wired back to them. Since it takes time for the fraudulent check to bounce, the unknowing property manager is now out the funds wired back to the potential tenant as well as any monies used from the check. If you do accept wire transfers, remember that funds from a check deposited into an account should not be used until the check officially clears, which can take weeks. You might also consider requiring your renters to pay rent online through an online portal to eliminate the chance of receiving fraudulent checks.

#6 The Fake Landlord Trick (Including Sub-Lets) Often called the Tenant Landlord scam, this sting involves someone posing as

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