National Rental Home Council and the Federal Trade Commission Fight Single-Family Rental Fraud
Friday, June 12, 2020
WASHINGTON, D.C. (June 12, 2019) — The National Rental Home Council (NRHC), the trade association dedicated to advocating on behalf of the 16 million home single-family rental industry and its residents, is working with the Federal Trade Commission (FTC) on a new effort to combat fraud in the single-family rental industry, NRHC announced today.
The effort includes a consumer alert with best practices compiled by the NRHC’s members and FTC experts, sent by the FTC to a list of more than 300,000 subscribers, as well as a landing page on NRHC’s website to host fraud prevention resources. In recent months, NRHC members have also worked to streamline and universalize their process for measuring the cases of fraud they face, to gain a better understanding of where the greatest challenges exist and how they can be combatted.
“Fraud is one of the most pressing challenges facing the single-family rental industry, one that preys on the desire of renters to live in the home of their dreams,” said NRHC President Kevin Baldridge, President of Tricon American Homes. “By shining a light on these bad actors, we can work with law enforcement to stamp out this problem and get back to what we do best: offering a best-in-class housing experience to each and every one of our residents.”
Fraud in the rental housing industry can take many forms. Some of the most common include:
- Scam & Fraud – An exchange of money between the scammer and victim
- Fraudulent Listing – A false advertisement posted online by a scammer
- Fraud Alert – Lead calls into the call center or emails to report suspicious activity
Among the tips from NRHC and the FTC for prospective renters seeking to avoid falling victim to scams are:
- Confirm that a rental home listing is also posted on the leasing company’s website
- Take a tour and confirm that the rental agent has a photo ID badge issued by the company that owns or manages the property.
- Never pay with cash, wire transfers or gift cards
“Fraudulent practices are unfortunately prevalent in rental housing, but informed consumers who know how to spot the signs of fraud can absolutely still get a quality rental home,” said Kelley Short, acting Executive Director, NRHC. “We’re excited to work with the FTC and local enforcement to identify and prevent fraud in rental listings.”
If you spot a rental scam, report it to local law enforcement and the FTC.
About the National Rental Home Council
The National Rental Home Council (NRHC) is the trade association dedicated to advocating on behalf of the 16 million home single-family rental industry and its residents. The NRHC supports efforts to strengthen neighborhoods by filling an important need in today’s growing rental housing market.
Visit the NRHC’s website, www.rentalhomecouncil.org, follow the NRHC on Twitter at @NRHCouncil and like NRHC on Facebook. To learn more about membership, email firstname.lastname@example.org.