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October 26, 2011

Protect Yourself from Rental Fraud: Three Steps to Take Before Reserving Your Next Corporate Housing Property

by AvenueWest Managed Corporate Housing

Technology creates ease of use when it comes to reserving a corporate rental; however, it also increases the potential for fraud. Before signing any rental or leasing documents, be sure to take these three important steps first:

  1. Run a Google Search on the Company. Look at any reviews about the company, review the website(s) to ensure a professional vibe, engage on their social media networking sites, and read any articles published about the company before finalizing anything.
  2. NEVER WIRE MONEY!!!! Alarm bells should be ringing in your head if a company or private person is asking you to wire funds. This is a tell-tale sign that the rental being offered is fraudulent. Legitimate rental owners will either ask for a credit card or check/money order/cashier’s check to reserve the unit.
  3. Use Your Gut. If the rental rate seems too good to be true, it most likely is. Research extended stay hotels or other corporate housing companies’ daily rates in the city or area you are looking to rent before you get talked into signing a long- or short-term lease. Also, ask to walk the unit before committing. If you will be renting a unit without being able to view the property first, then be sure to ask for current pictures of the unit with a date and time stamp.

If everything checks out, be sure to have the leasing agent or property owner go over the lease documents in detail with you before signing them. When in doubt, always ask questions first before making a commitment that you may not be able to break.

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