With the fall term approaching, the Waterloo Regional Police Service (WRPS) is reminding students to be on the lookout for rental scams.
The WRPS have received reports of four rental scams since July 1. In one instance, the victim did not see the unit and agreed to send an e-transfer for rent to the fraudster, after responding to a post on social media advertising the unit for rent. The investigations remain ongoing.
“The scams typically target students or newcomers coming to the area,” noted WRPS Cst. Melissa Quarrie, adding that scammers can and will use various platforms, including Facebook marketplace.
She did not specify how much money was lost in these scams, or whether they affected UW or Wilfrid Laurier University students.
When asked whether these rental scam numbers are typical from previous years, she said, “I can confirm that these types of scams happen throughout the year, although we do tend to see an increase during late summer and early fall period.”
A rental scam is a type of fraud where a perpetrator will post a fake rental listing, often for a nonexistent or unavailable property to trick victims into sending money.
Typically, scammers use stolen images from legitimate rental websites, advertise below market prices, and create a false sense of urgency, pressuring victims to send a deposit or first month’s rent upfront, usually before any viewing. Once the money is sent, the fraudster disappears, leaving the victim with no refund and no place to live.
To avoid being a victim of this type of scam, the WRPS recommends the following tips:
- Use trusted rental platforms.
- Avoid verbal or text only agreements. Make sure everything is documented and that you have a copy.
- Be aware of landlords who refuse to meet in person.
- Do not provide payment before signing a rental agreement.
- When signing the lease agreement, do not provide confidential information, such as bank information or a Social Insurance Number, to avoid identity theft.
- Be suspicious if there is urgency or pressure to get the deal done quickly.
