Beware of Rental Scams

Rental scams are a common type of fraud that happens when either a property owner or potential tenant misrepresents the terms and availability of a rental property. Fake advertisements or fake responses to legitimate advertisements are ways that criminals take advantage of their victims.

Some common red flags to be aware of for renters are: the advertised price is “too good to be true”, the owner is too “busy” or traveling, an agent is referred for the transaction, and you cannot view the inside of the rental. As a property owner, you can protect yourself by meeting with the renter prior to an agreement, verifying personal references, and considering using a consumer report to verify the renter’s information. Additional information on how to protect yourself against rental scams can be found at https://www.usa.gov/housing-scams .

Home title scams are a type of fraud in which a criminal files a fraudulent deed or transfers property titles without the owner’s knowledge. In some cases, the criminal may offer monetary assistance to a homeowner facing foreclosure in exchange for signing the deed to the property over. In order to prevent being victimized by this crime, homeowners should retain a copy of the deed to their residence, never sign away ownership of the home without consulting with an attorney, utilize a licensed real estate agent for any purchases or sales of property, and contact their mortgage lender with any concerns. Additional information on how to protect yourself against home title scams can be found at https://www.njconsumeraffairs.gov