Tips to Avoid Lease Fraud
As the new school year approaches, many are looking to find the perfect rental unit. Please be mindful of the potential for scams and fraud relating to leasing. Be wary of using apps such as Group Me to meet landlords or find sublets. Please exercise caution when searching for your rental, confirm contacts are valid, and use secure methods of payment.
A good source for leasing information is Penn’s Off-Campus Services. They provide great guidance on what to look out for.
Support Services:
If you should experience what you believe to be fraud, please contact any of the following resources to assist you in navigating a resolution. You will not be judged for having experienced such an encounter, please give us the opportunity to help you.
Penn Police, available 24/7/365: +1 215-573-3333
Signs of a Scam
Being savvy when you’re in search of a rental is well worth the effort. Here are some signs you may be dealing with a scam:
-Below-market rent: Prices that look way too cheap for being close to campus
-No in-person tours: Excuses why you cannot see the inside of the property before paying
-Demanding an immediate deposit or application fee to “hold” the spot
-Odd payment types such as wire transfers, gift cards, cash apps, or crypto
-They want a security deposit or first month’s rent before you’ve met or signed a lease
It’s never a good idea to send money to someone you’ve never met in person for an apartment you haven’t seen. If you can’t visit an apartment or house yourself, ask someone you trust to go and confirm that it’s for rent, and that it is what was advertised. In addition to setting up a meeting, do a search on the owner and listing. If you find the same ad listed under a different name, that’s a clue it may be a scam.
-They say they’re out of the country
But they have a plan to get the keys into your hands. It might involve a lawyer or an “agent” working on their behalf. Some scammers even create fake keys. Don’t send money to them overseas. If you can’t meet in person, see the apartment, or sign a lease before you pay, keep looking. What if the rental itself is overseas? Paying with a credit card or through a reputable rental website with its own payment system are your safest bets.