AboutYan Ross Expertise Certified Identity Theft Risk Management Specialist -- providing responses to questions on identity theft prevention and restoration for consumers and holders of protected information (Personally Identifiable Information)
Experience Recognized and quoted authority in the area of Identity Theft.
Principal Contributing Author to the Identity Theft Risk Management Study Guide published by the Institute of Consumer Financial Education. Frequent lecturer on this subject to attorneys and other professionals, as well as law enforcement and community groups.
Education/Credentials Bachelor of Arts, Princeton University --
Juris Doctor, Yale Law School --
Accredited Educator for numerous professional disciplines
Expert: Yan Ross Date: 12/4/2007 Subject: What do I do ??
Question Hi- I recently purchased a property in Arizona, USA and advertised it for rent on some very popular web sites. Now I'm getting emails regarding the property from prospective tenants. Some are in England. They claim to be this and that and they even offer to pay earnest money to hold the house for them. They are asking for my name, address and cell phone number.... so they can send me the payment. I'm new at this and remember the old saying "if it's too good to be true it probably isn't". At the same time, I really don't want to lose out on a serious tenant. Can you PLEASE give me some guidelines on how to determine who is legit and who isn't based on what they say or do ? I am dreading contacting these people with some personal information because of all the horror stories I hear about everyday. Thank you very much for your help.
Answer Hello, Bill!
You ask a good set of questions -- and first of all, it's important that you are aware of the kinds of ruses that would-be identity thieves use to obtain information that can be used against you.
I will try to answer the specific questions you pose, so that you can if possible and practical get on with your property rental.
It's not really possible to determine based on what you've sent the issue of who is legit and who isn't. There may be some indications, as you've suggested the "if it sounds too good to be true, it probably is" test.
My concrete suggestion would be to respond by sending the least information that can be used to effect the property rental, and restrict it to information that can't be used BY ITSELF to perpetrate identity theft against you.
In terms of receiving funds as a deposit on the rental, the least vulnerable means would be to send them your mailing address by e-mail (even a P. O. Box if you have one), and ask for payment by check.
Once you receive the check, you may wish to cash or deposit it in a manner that does not disclose to the other party your own account information.
It is obvious that you don't want to turn over any possession or control of the property until the check clears and you have a written lease or other appropriate agreement.
In any case, if the tenant is serious, and you frame your e-mail communication appropriately [upon receipt of the earnest money, you will forward a lease, etc....], you will likely only lose the non-serious prospects.
Just be businesslike, keep control over your personal and business information, and let me know if you need to pose any follow-up questions.
BTW, it's important for me to make sure you know that my response should not be considered as a legal opinion -- you need to consult your own attorney on the issues of real estate law and payment in this regard.
Good luck!
