June 15, 2008

Rental Scams in Pacific Beach, Ocean Beach and Mission Beach

An old scam has raised it’s ugly head again in the ever popular La Jolla, Pacific Beach, Mission Beach and Ocean Beach rental markets.

The target: unwary renters.

The bait: vacant property advertised on craigslist, usually at below market rates that generate a lot of interest.

The scam: advertise a property for rent on craigslist at below market rent. Set up staggered appointments to show the property to prospective renters. Collect a deposit check to "take the property off the market" and give the renter a move-in date. Cash the check. Wash, rinse and repeat.

The problem: the property is not for rent. It is a vacant property listed for sale where the listing agent has placed a combination lockbox on the property and disclosed the combination in the MLS. As a result, the scammer has a vacant property to advertise, easy access to the property, and decent odds that the scam can be worked without the owner or listing agent aware of what is happening until it’s to late.

The scammed renters often don’t know that they have been taken until they show up on the move-in date promised and can’t get in, at which point they call the number on the for sale sign that wasn’t on the property when they met the scammer, and then learn the truth.

The solution: This is a tough one for renters. Sometimes there are rental deals in this market that seem too good to be true but are legitimate because the owner needs the property rented ASAP. However, if there is a combo lockbox on the property without a sign from a real estate brokerage or property management company, then be aware.

If you are asked to provide either a deposit or a rental application with personal information, ALWAYS ask for ID first. A legitimate landlord, property manager or real estate agent will not object, and will most likely appreciate your concern. We recommend Goin2Travel.com for San Diego beach rentals.

Property owners and real estate agents should avoid using combo lockboxes, but if absolutely necessary, DO NOT disclose the combination in the MLS.

Posted in Real Estate News, San Diego Coastal by Bob

Comments

Bob

September 17th, 2007

With the number of REOs growing in the Land Of The Sun, I’m sure it’s only a matter of time before it hits there.

The beach areas here have a lot of college age students that are ripe for the picking.

Rancho Santa Fe

November 15th, 2007

We have seen contractor fraud in the fire areas, so I expect we will be hearing about rental scrams that take advantage of fire victims.

Denver Real Estate Broker

November 29th, 2007

Ironically, we had a similiar scam here. Ads were also placed in Craig’s List for low rent homes. The perp would always meet potential renters at the same Starbucks shop where he would take the “application deposit” . Finally, he met a potential renter who happened to work for the police department.

Jayson

April 6th, 2008

These scams happen in Phoenix all the time too. It’s getting hard to trust anyone, even an ID can be fake! I like Craigslist a lot and I use it all the time but I think charging $1 or so per listing might be beneficial or maybe $40 or so for a year long account. Just something that people can be tied to.

Fort Myers Real Estate Lawyer

July 17th, 2008

There are a lot of con-artist everywhere and you just have to watch your back at all times. Charging people on Craig’s list will not put an end to any scams. People will always find away to rip another person off. The idea is to be extra careful.

Jon Hoolihan

August 13th, 2008

WANTED 9 MONTH RENTAL MISSION BEACH OCEAN WALK .

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