Waterloo police issue rental fraud warning to students

With the school year coming to a close, Waterloo Regional Police have issued a warning to students about rental scams.

Police say they issued the warning because this is the time of year that students begin looking for a place to live in the fall or to sublet their current space for the summer.

There are two different scams that police are suggesting students keep an eye out for.

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The first is when the fraudsters pretend to have a property for rent in a particular neighbourhood.

They will request that the potential tenants answer a questionnaire asking for their personal information and banking information. The offer will be accepted and the victim will send a deposit. Later, when they come to collect the keys, they will find out they have been duped.

Police say to consider if the prices are reflective of the neighbourhood, review the contract thoroughly and schedule a visit.

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If there is an urgency to get the deal done or if questions are avoided, it could also be a sign of problems.

The other scam involves potential fake tenants. In this case, they will overpay and ask the landlord to send funds back to them.

Police are suggesting to make sure you verify a potential tenant’s info and to not provide banking info to people who live outside the country.