How many of you have searched Craigslist for Manhattan Apts for rent? We are entering the peak rental season, which also means peak season for scammers to be preying on YOU!
We all know someone who has used Craigslist, or have heard about these scams that plague Craigslist. I had 2 clients this month alone who were victimized on Craigslist. With the ever tightening market; April 2011’s Manhattan vacancy rate is at .94%; making this site an excellent fertile hunting ground for scammers.
Here are some tips for you, if you choose to brave Craigslist.
TRUST YOUR GUT INSTINCT
If it seems too good to be true, it is. Don’t waste your time following up with the ad. Not only do you waste your valuable time, but have the potential to get sucked in deeper causing you to lose valuable money.
For instance, the average prices for Chelsea apartments are: studio, $2290; one bedroom, $3368; two bedroom, $4894; and a three bedroom at $5959. So when you see a three bedroom apartment in Chelsea that is in a high rise, doorman, elevator building being offered for $2000, this is a fake ad.
NEVER WIRE MONEY OR SEND MONEY ORDERS OVERSEAS
Many of these scammers will give you reasons so as not to meet you in person. They will claim they are out of town or will be travelling and unable to meet you.
Once they have received the funds, they will send you bogus leases and promises of sending the keys; and you will never hearing from them again.
Only hand over monies when you have physically seen the NYC rental apartment, or have a friend do an ocular inspection for you if you are abroad.
Anyone who asks you to send a money order is a scammer. You will want to meet them in person and get a receipt. Fake cashier check and money orders are common, and banks will cash them and then hold you responsible when the fake is discovered later on.
DEAL LOCALLY
Only deal with people locally or that you can meet in person. If you follow this one simple rule, you will avoid 95% of scam attempts on Craigslist. If they cannot meet with you or do not show up for an appointment, this is a red flag.
CRAIGSLIST IS NOT HELD ACCOUNTABLE
Craigslist is not involved in any transaction, does not guarantee transactions, provide escrow services or offer any buyer or seller protection. They are just a giant online ad board. So if you are scammed Craigslist has no part and will not reimburse you.
NEVER GIVE OUT ANY FINANCIAL INFORMATION
Don’t give out any bank account numbers, social security numbers, or any other sensitive information. Avoid answering any ads that involve shipping or escrow services. When you see ads that state a “guarantee” for your transaction, they are scammers.
HOW TO RECOGNIZE A SCAM
Most scams involve someone who is far away, and their refusal or inability to meet you face to face. Key trigger words for a scammer are, asking for a cashier’s check, Western Union money gram, money order, escrow service, shipping service, and “guarantee”.
I always recommend working with a trusted NYC real estate broker whom you have also done some homework on. Protect yourself!
We specialize in Manhattan apts, rentals & sales:
Soho Lofts- Tribeca Condos - Greenwich Village Apartments - Upper East Side Apts-Upper West Side Apartments - Battery Park City Apartments -Chelsea Apartments- Gramercy Apts - Midtown East NYC - Midtown West NYC - Murray Hill in NYC - Lower East Side NYC - East Village Apts
Further Reading: How to Rent in Manhattan, How to Rent in Manhattan with Pets, How to Rent in Manhattan as a Foreigner, Keeping Security Deposits Safe –Renting Apartments in NYC
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