A new study aimed to answer the question: when and where do the most rental scams occur?
The study, conducted by Apartment Guide, determined the top five states for rental scams and Colorado happens to be one of them.
The editorial team used data from the Better Business Bureau and found that the worst time for rental scam losses is during the summer although January has the highest number of scams reported.
“We’re not sure what about these months is driving the numbers. It could be something as simple as people are going on vacation and looking to rent a vacation house, but as Summer rolls in and weather changes and gets nicer and companies are going more remote — people have the freedom to move," Kylie Moore, an analyst who worked on the report, told FOX31.
According to Apartment Guide, these are the top five states with the most rental scams:
- Idaho
- Hawaii
- California
- Colorado
- Oregon
This is what the editorial team had to say about the state:
"Rental scams reported in Colorado were higher in 2020 than any other year. Migration to Colorado may have played a role as it was the eighth-most moved-to state last year. Colorado is overflowing with outdoor activities, making it the perfect destination for people who are tired of a more metropolitan lifestyle."
The study also found that Colorado lost $33,561 in rental scams since 2015 and Colorado residents lose $578 per scam on average.
You can read the full report here.