corporate housing scams

How to Avoid Rental Scams in Your Furnished Housing Properties

No one likes admitting when they have been scammed, and even more so when that scam has led to serious financial losses. Rental scams are the worst of these scenarios because there are so many ways that you might avoid them. Yet, when an individual or even an organization does manage to obtain furnished housing rentals from you, and then proves to be a scam, you might wish to pretend it never happened and move on. Is that a good idea? In a word: No. Instead, it’s a great idea to share details about any rental scams with others,...

Corporate Rental Scam

Corporate Rental Scams Can Happen to You

Whether you are offering home or apartment rentals to corporate clients, you may believe yourself immune to many of the rental scams at play. However, we want to remind all of our readers and clients that corporate rental scams are also a growing concern. This is why CBHO offers ongoing updates about potential scams as well as articles that serve as alerts to various scams and how we avoid them. In a recent article about scams relating home and apartment rentals, we looked at the issue of craigslist. The way it has panned out is simple – someone copies...

Corporate Housing

Investing: Avoid Scams – 7 must ask Questions

Over the years CHBO has worked a lot with Personal Real Estate Investor Magazine. We have traveled across the country to present Corporate Housing real estate investment strategies at their Leadership Summits, we are a featured blogger on their online magazine and even serve on the magazine’s Editorial Advisory Board. We do all of this because we do believe real estate investing is something that every smart investor should do, however we also believe there is a large learning curve between wanting to make money in real estate and actually seeing money in the bank. For too long the “get...

Corporate Housing

Property Rental Scams: Red Flags when Screening a Corporate Housing Tenant

Nothing will cause you to lose money with your rental property than having a bad tenant or a professional scammer in the property. I’ve been in the property management field long enough to know red flags and rental scams when I see them. You know, the tenant calls you and your gut just tells you something just doesn’t feel right. In my experience, here are some red flags every corporate housing landlord should be on the look out for: A tenant who doesn’t want to complete the rental application. Every tenant should complete the rental application with a few...

Corporate Housing

Alert: Craigslist Rental Scam

Thank you to Sherri for taking the time to make this post about her experience with a Craigslist Rental Scam: Sherri Bell on June 10, 2014 at 12:30 am said: “I was at my rental property and some people stop to ask if I was renting my house. It is listed with CHBO so naturally I said yes. They then asked if I had it listed on craigslist, to which I replied NO! They showed me the add, and we both flagged it! They simply copy and pasted my CHBO listing. I know this is a common occurrence, but I just wanted...

Corporate Housing

Real Estate Alert: Summer Scam – Cash Offers

I received this alert from the Colorado Department of Real Estate and thought it was applicable to all real estate markets. If you are selling a property take a minute to read this important information. Real Estate Alert: Summer Scam – Misrepresentation of Cash Offers The summer selling season is warming up and the inventory of available homes for sale is very low. As a result, sellers are receiving multiple offers, often times higher than the asking price and many of these offers are written as an all cash purchase. As such, buyers are structuring offers to be the most attractive...

Corporate Housing

Alert: Holiday Rental Scam for Extended Stay

First I have added a new category “Alerts” when we hear of news or tips that are important NOW we add them here. We have talked about the “Professional Renter” and the “Friday Night Fraud” and this is a real example that happened this week that combines both but we will call it the “Credit Card Play”. Credit Card: Because it involves the use of fraudulent credit cards. Play: Because there is a lot of acting involved. Basics: Tenant wants to rent an extended stay property and wants to move in that day. Tenant is applying in person and has a...

Corporate Housing

Ripped From the Headlines: How to Avoid Rental Scams

The headlines these days say it all: “Couple trying to rent home on Craigslist loses $1,200 in scam” This innocent couple lost $1,200 because they fell for a Nigerian scam. The “property owner” claimed he was an African missionary and he needed the couple to wire him $500 to reserve the property. He later asked them to wire him another $700 for the first month’s rent, and they obliged. When the couple went to the home to move in, the person who lived there didn’t know what the couple was talking about. “Craigslist scam targets Kentucky real estate” In...

Risk Management for Property

6 Ways to Lower Your Risk When Renting Furnished Homes

Roller coasters are fun for many people, a thrill ride that provides a few minutes of excitement. But in enjoying the ride, most people don’t think about the careful planning and preparation that made sure the ride was a safe one. Architects, Engineers, and Planners made sure you were protected and safe. Similarly, renting furnished homes can be a thrill, too, and a lucrative income stream. But like your favorite roller coaster, it isn’t without risk. Knowing and preparing for those risks can save you and your bank account from a bad experience, not to mention give you more...