A March local residential rental report found higher rents and affordability were the norm. The median for all rents area wide is almost $1,100. And rents on one-bedroom apartments in Kingsport, Johnson City, Bristol VA, Abingdon, and Elizabethton saw double-digit rent increases in the last year. 

 Another facet of the rental market that is up, but not reported, is scams. 

 Using this space to shine a spotlight on rental scams has become a staple for the Northeast Tennessee Association of Realtors® (NETAR). Consumers are urged to be extra careful when shopping for a rental – especially when the shopping is online. Scams have increased because of the housing shortage, and a growing consumer preference for rentals has driven demand for apartments and single-family rental to new highs.  

Some of the crunch has eased with more competition and both local and out of area investors are maneuvering to build more apartments. Local builders who have “build-to-rent” developments are also busy.  

Everyone in the real estate industry has reacted to the new rental demand. That includes con artists.  

Ground zero is Craigslist where consumers look for deals and scammers troll for the unwary. We’ve all heard the advice that “if something sounds too good to be true, it probably is.” Some local consumers can testify to it.  

Craigslist isn’t the only medium where scam ads can be found. There are other websites that are cited as a favored ground for scammers. But it is one of the favored mediums for con artists because its housing section attracts a lot of consumer traffic. Legit landlords and some agents like it because of the traffic volume, and it’s a way to trim marketing expenses. It also has a reputation as a place to score a good deal or be snared by a scam.  

When responding to internet rental ads, there are red flags that should send savvy consumers scurrying for the exit. 

One example is the fake landlord apologizing in an email or a call that he – or she – has been unexpectedly called out of town and can’t show the property. However, an appointment with a third-party agent can be arranged if the consumer makes an up-front deposit.  

There are also cases where an up-front rental agreement is required. 

Another scam – a phishing tactic – requires the consumer to provide personal information like a driver’s license number, social security number, a credit card, or even bank information before an application can be processed and a walk-through planned. 

Either situation is almost a guarantee that the listing is a scam and the person at the other end of the ad is there to steal your money or identity. 

Increasing local rental scams and identifying theft efforts via rental applications are the primary reasons consumers should partner with a professional Realtor® before any money or personal information is provided for a real estate transaction. Realtors® are professionals who adhere to a code of ethics and use the Internet for legitimate business. Scammers use the Internet – of Information Superhighway as it’s sometimes called – as a fast lane to steal unsuspecting consumers’ money and/or identity.