'Numbers game': Scammers out in droves as rental market heats up - BNN Bloomberg

With rental prices increasing and competition for units growing more fierce, the number of scam listings are also on the rise.

Similarly, Kijiji Canada said there has been an increase in the number of replies to posts in its housing rentals categories and a “slight increase in the number of rental scam attempts over the busy summer months,” a company spokesperson said in an emailed statement.“They don't know what the local laws are that are there to protect renters. They're not aware of consumer alerts that are issued by the local municipality or by the police,” he said.

“Housing has become obviously a little less affordable as of late -- housing prices were up and then interest rates were up. And when it's harder to buy, people who might have graduated from renting to buying are forced to continue to rent so there's just a larger demand for rentals. And that's obviously juicy for scammers.”showed the average one-bedroom rent across all types of properties listed on its site rose 9.07 per cent in July year-over-year to $1,639 per month.

He also suggested trying to use municipal resources such as a property tax search to determine whether the person renting the unit is the actual owner.

Government created inventory squeeze and price increase moratorium

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'Numbers game': Scammers out in droves as rental market heats up - BNN BloombergWith rental prices increasing and competition for units growing more fierce, the number of scam listings are also on the rise. Experts advise on red flags to look for in scam listings and what to do next if you fall victim. Story by m_zadikian
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