Cost of Rental Scams
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Rental listing hoaxes, fake landlords, and bait-and-switch schemes are not just creating headaches for people seeking new rental properties; they are costing Americans millions of dollars.
5.2 million U.S. rentes have lost money in rental scams
43.1% of renters have encountered a listing they suspected was fraudulent
88.3% of renters who have lost money from rental fraud changed how they search for rentals
With 43.1% of renters having encountered fraudulent listings, 5.2 million U.S. renters have actually lost money on many different forms of scams. One million of those lost more than $2,000, with another 2 million having lost at least $500.
In some of the most challenging markets like Atlanta, DC, Denver, and Las Vegas, 1 out of every 10 renters has lost cash to scammers. While a common recommendation is to use brokers and agents to avoid these challenges, they too can find themselves unknowingly representing landlords with problematic pasts, leading to dangerous and unsafe property conditions, and often protracted legal battles that are even more expensive for everyone involved.
When weighed against the risk of potential losses of hundreds if not thousands of dollars, SmartRenter Reports offer a cost-effective way of helping to ensure renters are making smart, informed decisions with reputable landlords and safer, secure properties.
SmartRenter Inc. is not a consumer reporting agency as defined by the Fair Credit Reporting Act (FCRA). It is PROHIBITED by law to use our service or the information it provides to make decisions about consumer credit, employment, insurance, tenant screening, or for any other purpose subject to the Fair Credit Reporting Act, 15 USC 1681 et seq. SmartRenter does not provide consumer reports and is not a consumer reporting agency. SmartRenter does not make any representation or warranty about the accuracy of the information available through our website or about the character/integrity of the person about whom you inquire per our Terms & Conditions.