The property rental market is booming in 2022, and tenants are fighting tooth and nail for affordable accommodation. This sort of scenario is fertile ground for rental scams: tenants who are in urgent need may go out on a limb, and trust listings that they normally wouldn’t. In 2022 so far, $3.9 million has been lost to scammers posing as property agents.
This week, we get a first-hand account on how these scams work and how their tactics have evolved:
The difficulty of finding a rental unit in 2022
When M decided he needed larger accommodation, he started his hunt on the internet. He was looking to upgrade from his current studio apartment to a two-bedder, which would have been perfect for his partner and their three cats.
M said the usual portals didn’t seem to have listings that matched their criteria. “The prices have gone up so much, and...