For people with property in the Lower Mainland, the 2010 Olympics are a golden opportunity. Dozens of homes are up for rent during the Games, many with online classified postings - but home owners aren't the only ones looking to make a profit.
The Better Business Bureau says landlords must exercise extreme caution when renting out their homes during the Olympics - especially when dealing with international cheques.
"When you deposit into an account and it's coming from somewhere international, it does take longer to clear the bank," the Bureau's Simone Lis told CTV News. "So even though it may appear as though it's cleared your bank, often it has not."
The safest way to ensure payment, Lis said, was to have payments sent directly using wire transfer services like Western Union.
On Tuesday, the RCMP reported that one Surrey resident had already fallen victim to an international rental scam.
After putting her home up for rent, the owner was contacted by a man claiming to be a doctor from England. After sending her a cheque for $39,000, he asked for $8,900 to be returned to him to cover his furniture shipping costs.
She verified the cheque with her bank, and sent the payment. The cheque was later found to be fraudulent, and the $39,000 was removed from her account.
"Any form of transaction where you're asked to return money to the purchaser, that has got to set off a red flag," RCMP Sgt. Tim Olstead said.
Police believe the scam is tied to three similar cases across Canada, from Delta, Squamish and Toronto.
"It's extremely common," Olstead said. "We come across at least several hundred incidents a week."
The RCMP advises anyone offering their homes for rent to keep detailed records of their interactions with renters - including emails, IP addresses and any envelopes or cheques received.
Anyone who believes they have been taken in by a rental scam can contact Phone Busters at 1-800-495-8501.
With a report from CTV British Columbia's Maria Weisgarber
