Rental scams increase nationwide

New York /
Oct.October 13, 2010 01:00 PM

Stephen Kotler of Prudential Douglas Elliman

As the rental market tightens, the likelihood of apartment hunters being scammed is increasing, brokers and crime experts said. The most common fraud involves scammers posting legitimate rental offers on listing services for lower rents, agents told the Wall Street Journal. Victims send in deposits and find out later that the apartment’s actual owner was not involved. Close to 5,500 rental-scam complaints were received nationwide by the start of October, according to the National White Collar Crime Center. Though statistics for New York alone aren’t available, anecdotal evidence suggests that the trend is prevalent in Manhattan as well. Stephen Kotler, executive vice president and director of rentals at Prudential Douglas Elliman, said his firm heard about three cases in the last two months where suspicious would-be renters contacted the firm and established that listings had been copied by bogus operators. “We have definitely seen an increase in this type of fraud recently,” Kotler said. “With the Internet it is very easy for people to scrape information from any website and present it as their own.” [WSJ]

 

Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)
Douglas Elliman is coming to Texas
Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Howard Lorber (iStock, Getty)
Elliman reports $14M quarterly profit, 65% revenue jump
Elliman reports $14M quarterly profit, 65% revenue jump
Quay Tower at 50 Park Drive and Ryan Serhant (ODA, Getty)
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
(iStock)
Brooklyn construction union boss convicted in bribery scheme
Brooklyn construction union boss convicted in bribery scheme
(iStock)
Long Island sales reach new highs with inventory at record lows
Long Island sales reach new highs with inventory at record lows
Douglas Elliman’s Property Management Clients Shrug Off Breach
Elliman property management breach: “Gold mine for cybercriminals” or “nothing new”?
Elliman property management breach: “Gold mine for cybercriminals” or “nothing new”?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...