LOS ALTOS, Calif., July 21, 2022 (GLOBE NEWSWIRE) — In March of 2022, Dwellsy conducted a survey of over 400 renters to gain a better understanding of the impact of rental fraud on U.S. residents.
Dwellsy found that roughly 60% of respondents encountered fraudulent rental listings on online rental platforms in the prior 12 months. To make matters worse, 44% of the renters surveyed had, or knew someone who had, experienced financial loss as a consequence of rental fraud.
The numbers concerning the financial impact of fraud on renter households were significant. Around 85% of losses reported were above $400, and 18.7% of losses were more than $5,000.
Dwellsy’s most shocking survey results came from their estimated total yearly losses due to rental fraud, which was a whopping 16 billion dollars.
“It’s an epidemic of fraud that affects every rental search and it needs to be dealt with,” said Dwellsy CEO and Co-founder Jonas Bordo.
Dwellsy Fights Back Against Rental Fraud
Dwellsy was founded in 2019 as the first fully organic, fraud-free rental marketplace. To help maintain “low-to-no” fraudulent activity, Dwellsy has implemented a proprietary fraud prevention methodology that enables them to increase their odds of catching scammers early on.
Dwellsy has also implemented a “Dwellsy Verified” feature that helps renters identify which rental listings have been verified and those that have yet to be deemed trustworthy. With this simple tool, Dwellsy is able to…