How to Avoid Getting Ripped Off by Fake Landlords and Other Scammers
REAL ESTATE NEWS (Los Angeles, CA) — Fraud, fraud and more fraud!!! Scams and sheisters galore! They’re calling every day, emailing, texting and posting online all over the place, seemingly without any enforcement or consequences for their illegal actions. Fraud is so in right now. The topic has been the most read on the Loft Blog lately.
Even with a healthier economy a few years ago, fraud was already taking over. Then, with pathetic politicians running the show, overhyped pandemics, lame lockdowns, riot looters, soaring street crime, helicopter money grab, sketchy vaccines, sliding stock markets, irritating interest rates, jerky job market and a crashing, collapsing economy, the perfect storm has formed. It’s is taking fraud to a whole new level. Today, we’re living in a universal torrent of international super fraud culture. Even licensed real estate professional get scammed by skilled con artists.
A slumping economy creates more dangers. When the chips are down, the chickens run — and the wolves go hunting. Here’s how to make a move confidently without falling prey to the bad guys. Here are some tips to avoid getting ripped off by fake applications, fake landlords and other scammers:
- Do your research: Before agreeing to anything, research the property and the landlord. Check if the landlord has a legitimate business address and phone number, and if the property is actually for rent. Use reliable sources to verify the information. Loft Blog premium subscribers get access to free Person Report and many other included verification and authentication tools and services.
- Don’t wire rent money: If a landlord or property manager asks you to wire money, it’s likely a scam. Legitimate landlords usually accept checks, credit cards, or other traceable forms of payment. Wiring money is like sending cash, and once it’s gone, it’s difficult to recover. Before wiring money to an escrow company, call the escrow officer on the phone to confirm their wiring instructions.
- Inspect the property: Make sure to inspect the property in person before signing a lease, sending any money or personal information. If the landlord or property manager refuses to let you see the property, it’s a red flag.
- Be wary of deals that seem too good to be true: If the rent is significantly lower than comparable properties in the area, and the owner is out of town, it’s likely a scam. Scammers use low prices to lure in unsuspecting victims, and scammers usually don’t want to be seen in person unless they are super skilled con artists.
- Trust your instincts: If something feels off, trust your instincts and walk away. Scammers use high-pressure tactics to get you to act quickly, but taking the time to do your due diligence can save you from getting ripped off.
The current environment has created an opportunity for scammers to take advantage of vulnerable individuals, including those looking for real estate. Remember, if you do fall victim to a real estate scam, report it to the authorities immediately, then send details to our fraud prevention team protect@laloftblog.com
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.