Property management can be a rewarding and fulfilling experience, often presenting unique challenges. Aside from advertising vacancies, vetting tenants, and preparing lease agreements, property managers are responsible for repair and maintenance issues, rent collection, and record keeping. Navigating issues that pop up along the way is certainly part of the terrain, but falling prey to rental scams shouldn’t be.
Although it’s important to be aware of rental scams, don’t let your fear of fraudsters prevent you from adopting new technology tools. Sensors, keyless locks, and self-guided property tours will protect your assets and those who use them and deter criminals from committing fraudulent activities. Here are a few things to know and do to prevent scamming at your single and multi-family residential properties.