5.2 Million People Have Lost $$$ due to Rental Fraud
By Jerry Newman, Texas REALTOR, San Antonio Military Relocation
(Brown Realty, 210-789-4216,)
Rental fraud has affected millions of renters, and especially those in the Millennial age groups. Check out the full study on the Million Dollar Scam on Renters. See some Key Highlights: An estimated 43.1 percent of renters have encountered a listing they suspected was fraudulent, and 5.2 million U.S. renters have lost money from rental fraud. Younger renters are more likely to experience rental fraud, with 9.1 percent of 18 to 29-year-old renters having lost money on a rental scam, compared to 6.4 percent of all renters. Of renters who have lost money in rental scams, one in three have lost over $1,000. Unlike many other types of fraud — including telemarketing fraud and health insurance scams — that primarily target older people, renters aged 19 to 29 are 42 percent more likely to ha...
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