25 Aug 2022
Going abroad for education or employment is exciting but not without several dangers and problems that, if not guarded against timely, can lead to grave troubles. Expatriates from developing countries go to developed countries for better jobs, earn money and send money online back home to support their families financially.
Where expatriates find travelling and getting jobs in a foreign country easy, the critical confusion that expatriates face is the arrangement of accommodation that is mainly rented. This is where the rental scams creep in, and the scammers prey on the would-be tenants.
Of course, you have to live in a rented apartment in a foreign land as you are going there to seek jobs or education. You have no acquaintances there, and even you are a stranger. Therefore, the first thing you urgently need is shelter as soon as you land.
For this, you must make arrangements before coming or soon after reaching. It entails a high chance of you becoming a victim of rental fraudsters.
Rental fraud occurs when property owners or tenants misrepresent themselves and manipulate facts and truths about the property they are interested in renting.
In other words, they neither show what they actually want to deliver nor do you get what you are promised in the fake ads. One of the growing rental scams is the online listing that attracts most foreign visitors, overseas workers, and international students. Let’s look at some quick facts about rental scams worldwide.
According to The Business Times report, almost 144 people lost nearly 190,000 USD due to rental scams from January to March 2022 (merely in three months).
Rental scams have affected millions of people across the world and in America. In the USA, in 2022, almost 11,578 people lost nearly $350,328,166 due to rental scams.
Apartment List Survey, conducted in 2018, revealed that about 5 million Americans fell victim to rental scams.
Even though the number of people falling victim to this scam never decreases, several people continue to become victims of the same fraud.
The following are the most common types of rental scams.
The following tips will help you quickly spot and guard against rental scams.
The financial woes of the people of developing countries push them into acute poverty and lead them to travel to developed countries for better jobs.
They earn money from there and look for money transfer services featuring low fees, instant transfers, competitive currency exchange rates, safety, accessibility and 24*7 service availability and convenience to transfer.
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