Fraud prevention tips for tenants Is thE prIcE too good to bE truE? Check rental rates in the same area. Often fraudsters will try to entice their victims with unbelievably low prices to elicit multiple victims. arE thEy just communIcatIng wIth you vIa EmaIl? Fraudsters will not want to meet their victims in person to avoid being recognized and investigated by police. According to the Ministry of Consumer Services, complaints have been filed against businesses using the email addresses homematchrentals@live.ca and ontimerentals@live.ca arE thEy askIng for cash only or a cash sEcurIty dEposIt? Never pay a rent deposit by cash. Cash is untraceable and can be used immediately. arE thEy askIng for monEy to bE wIrEd? Once money is wired, it is extremely difficult to cancel the transaction. Also, money transfers are difficult to trace. Never send payment electronically to an individual you have not met. havE you sEEn thE placE and walkEd around wIth thE propErty managEr or ownEr? Never rent an apartment home if you have not visited the property and met someone on-site, unless it is with a well known and respected owner/management company. arE thEy thE landlord or propErty managEr? Only the landlord and property manager have the authority to rent out a place (there are exceptions to this rule, however, it is rare). ask thE nEIghbours about thE landownEr and hIstory of thE propErty. Neighbours are a great source of information regarding the owner and property. They can often confirm who the owner or property manager is. look for cErtIfIEd rEntal buIldIngs Look for buildings in the Certified Rental Buildings Program in Ontario. These buildings are monitored by FRPO to meet professional standards and are independently audited to meet rigorous standards. You will not be exposed to fraud in a CRB building. Find out more at www.crbprogram.org.
vErIfy paymEnts If you are considering renting to someone who sends advance payment, ensure that their payment is good with your bank. ExcEss paymEnts Never wire or transfer excess funds to anyone. cautIon durIng studEnt rEntal sEason Fraud becomes more prevalent near the end of a term at university or college when students are attempting to sublet their apartments. Be extra cautious at this time. tEnant scrEEnIng Use proper applicant screening practices and follow up on all references. Make sure that the tenant application form has been completed in its entirety. This information is compiled from advice provided by the Ontario Provincial Police, Waterloo Regional Police, Vancouver Police Department, Halifax Regional Police and the Ontario Ministry of Consumer Services. To report suspected fraud, contact the Canadian Anti-Fraud Centre at 1.888.495.8501 or info@antifraudcentre.ca
Fraud prevention tips for landlords: do thEy only communIcatE vIa EmaIl? Police suggest being very cautious when dealing with someone you only have contact with via the Internet.
Ted Whitehead is Director of Certification, Certified Rental Building Program, Federation of Rental-housing Providers of Ontario (FRPO).
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