Cost of Rental Scams

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.

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.



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