Overpayment

The fraudulent renter makes a payment in excess of the requested total by a method which can take several days or longer to clear the owner's account. Shortly after, the renter requests that the excess be repaid by direct wire transfer. After this refund for overpayment has been paid, the owner discovers that the initial payment was a fraudulent transaction which will not clear and the fruadulant renter disappears. Property owners should avoid accepting excess payments for the agreed accommodation.

Indirect Overpayment

Other common methods of overpayment include requests to accept payment for additional items such as rental car, driver, tour excursions, gifts, etc - either directly from the fraudulent party or a third party relation (i.e. spouse, employer, parent etc). Again the renter makes payment by delayed payment process such as a check and then follows up saying the excess item is no longer needed and requests that the overpayment is refunded immediately, before the initial payment by the renter has cleared.

Confidential Bank Details

There is never a justifiable reason for a property owner to release confidential banking or personal payment information. The renter may request to wire the rental money directly into the property owner's account. However, scamsters often try to obtain confidential payment information such as account numbers, social security numbers or otherwise. If you are ever in doubt as to what information is legitimately required to complete a wire or bank transfer into your account, always call your local bank directly for further advice.

Forged Payments

Cashier's checks, money orders, certified checks, as well as personal checks can be forged. Always go to your bank to verify any type of check and wait for funds to clear before you return money or rent your property! Sometimes even the banks are fooled by these bogus documents, until they try to collect the funds. At this point they are calling you on the phone!

Home Damage or Item Theft

Hotel travelers often lift anything from towels to TV's. Your home is similarly vulnerable. Allowing someone into your home for an extended amount of time provides the renter with the opportunity to damage electronics, appliances, carpets and more. There is also the potential for the renter to remove items of value from the home. These are usually small items that go unnoticed for a period of time. Rental insurance from a reliable company is a must in addition to a well written rental contract. You can contact your current insurance carrier to inquire about this type of insurance. Also, always do an inspection of the home as soon as the renter leaves.

Extra tip: The renter gets an extra day...

Renters sometimes like to extend their stay and disregard the check out time. This creates several logistical problems with the cleaning schedule and the next renter's check-in and is just an overall hassle for the homeowner. The cleaning service is your home's lifeline and the next renter waiting in the car for the house to be ready is never good. In addition to having check-in and check-out times clearly written into your rental contract, always post a sign in your home with this information as well as the penalty for not vacating the property on time.

A notice could read like this:

Dear Renter,

Please note that our cleaning service arrives at 11:00am on the day you are to check out. In order for the home to be as clean as it was for you, the cleaning service needs plenty of time to clean the home for the next guests. Per the rental contract a $200.00 fee for late checkout will be imposed if you do not vacate the home by 11:00am.

If you would like us to upload your home to ReserveMyHome.com please send us a link to a current listing and your phone number.

Contact info@reservemyhome.com and say "list my home so I can relax!"

Our friendly staff will upload your home and call you direct. Your information will be kept confidential.

Coming April 2009 - ReserveMyHome's tips on relocating your current tenant for the 2010 Games.

TRAVELOGUE: ReserveMyHome, LLC does not charge a fee to list your rental home for the 2010 Olympic Games and our booking service will allow you to enjoy your rental experience. Until a rental agreement is in place you have no obligation to our service.