Beware of Rental Scams in Colorado

A lot of people, for a number of different reasons, are looking for rental property these days. Foreclosures across the country, and in Colorado, have forced many people into the rental market after losing their homes. Others may be changing jobs and would rather rent than buy as they wait for the real estate market to stabilize.

Whatever the case, consider this article a note of caution for anyone considering renting residential property. Scams abound and the scammers are more than willing to steal your money. Recently in Colorado, an ad appeared under homes for rent. It seemed legitimate. It wasn't, however.

The ad stated that a family was going on a missionary assignment and wanted to rent their home in Denver's Park Hill neighborhood. When a potential renter responded and wanted to see the home, the "owner" replied he was in Africa and has the keys with him. Continuing the scam, this "owner" asked for money before he would send the keys.

In this particular case, the fictitious owner wanted a $500 deposit and one month's rent, sent to him through Western Union. Obviously, the potential renter would never see the keys. This is just one of many scams that prey on the unsuspecting, and perhaps desperate, people looking to find a rental home.

Scams such as this generally originate in West Africa. If you have an email account there is a high probability you have been contacted by this group of scammers offering large sums of money.

These con artists do their homework. They go online and copy real ads, often including photos of the property to lend credibility. They lower the monthly rent amount, replace the real owners contact information with their own and then repost the ad on free advertising sites such as Craigslist. The real owner is unaware their home is being used for fraudulent purposes.

Be careful. If an offer sounds too good to be true, it probably is.

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