Rental scams are nothing new — they’ve been around as long as rentals have. But they’re getting more frequent and harder to spot., has seen this shift first-hand. Document forgeries from scam artist tenants have become more and more sophisticated, she says, and many scammers appear to be working within a larger network.
“I followed up with a company listed on an application, and when I questioned how long the person was at this address I discovered the applicant had no affiliation with it. The person I spoke to said, they’ve been sending [the scammers] cease and desist letters for over two years and that half the documents they get to their office are eviction and tribunal letters,” Sears explained.
The rental scams, Sears says, are likely just a small piece in a larger scam operation, but they can have profound effects on a landlord’s business. With an extensive backlog at the Landlord and Tenant Board that has landlords waiting, on average, eight months for an eviction hearing, these scams put landlords at risk of losing tens of thousands of dollars in income.
But it’s not just landlords who can benefit. Their service also offers protections to tenants because, as Sears notes, “as much as there are both bad and professional tenants, there are bad landlords out there.” In fact, scam landlords are something Menkes has also seen quite a bit of. In these scenarios, the scammer will oftenwith photos taken from a Menkes ad and request a first and last month’s rent deposit from an unknowing tenant.
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