Rental Scams On The Rise as Rent in San Francisco Skyrockets

San Francisco’s housing market is booming. A.I. is reshaping the city’s economy while shrinking the Financial District’s bemoaned occupancy rate—and COVID-weary landlords are taking notice. New money means rents are climbing again, shattering records established in prior tech booms. This time, applicants are going to great lengths to woo prospective landlords, gladly paying well above asking price to secure an apartment. Consequently, the boom is attracting scammers like fresh blood in shark-infested waters, and worse, the hopefuls keep flailing. 

Rental scams are nothing new, and most of their schemes are fairly obvious. For example, if the grifter posing as a landlord hesitates to let you tour the place, it’s a scam. If they want you to pay an application fee or deposit before the tour, it’s a scam. Some will steal content from legitimate real estate agents and use it to ensnare renters with tantalizing low rates. 

Newer, more elaborate scams are emerging in 2026. The San Francisco Standard recently shared the unfortunate story of Alvin Tran, a product designer from Seattle, Washington. Mr. Tran began his hunt for a San Francisco apartment once he was priced out of his own. In June, his landlord said that in September, when his lease ends, rent will increase by $700. He soon found a rental listing on Zillow for a two-bedroom unit in Duboce Triangle on 15th Street. Tran messaged the seller on Zillow but did not receive a reply, his email likely buried under countless similar queries. But then he found the same listing on Craigslist, same photos, same description. Tran emailed the poster, got a reply, and within an hour, received an invitation to an open house. 

The agent called himself James Basuino Dunlap. James Basuino, who goes by Jim, is an actual real estate agent in San Francisco. He really did post the listing on Zillow, and the time and date of an open house—the same from the Craigslist ad. Tran met and even spoke with Basuino, who said that the home belonged to his grandparents. While the crowded open house left little room to interact, meeting Jim disarmed all suspicion. “Our conversation was mainly asking about the unit, the neighborhood, who the next-door neighbors are. I had already been emailing and texting someone who I thought was the same guy,” Tran told the SF Standard. “There was no reason for me to confirm that, because I was already in communication.”

Alvin Tran was one of several parties at the open house. He took an application anyway. He then emailed “James” via Craigslist requesting a Gmail account to send his completed application to. Tran received this email address: [email protected]. Believing James and Jim were the same person, Tran sent his information along, adding, “Thank you so much for taking the time to show me your beautiful home.”

Tran soon heard back from the scammer, who assured him he was a frontrunner for the apartment. In another act of deception, James asked Tran to write a letter swearing he would take care of the unit, “as if it is your own.” He followed the instructions and awaited James’ response. At the odd hour of 3:31 AM, James emailed Tran to inform him that he’d gotten the apartment. He received a follow-up email with a lease agreement that listed the landlords as James Basuino Dunlap and Leyder Junco Barranco. 

“ During the tour, [Jim] was mentioning that this is a family house,” said Tran. “So I assumed that the other name was another family member in charge. I didn’t think much of it…The lease looked pretty standard to me. There was no red flag.”

They also requested $12,400 for the first and last month’s rent and $6,200 for a security deposit. Two payments, a total of $18,600. Insane, but not unbelievable in the context of San Francisco’s hyper-competitive housing market. After obtaining his roommate’s half, Tran wired the money to James, who replied saying he could move in July 30. Tran went to the property on Thursday, July 30 to acquire keys from James, but James didn’t show. 

He texted James, but did not receive a response. Tran then called the number he’d been texting. The Google Voice account holder did not answer. He also tried emailing James to no avail. Tran half-hoped the landlord had suffered a serious accident on his way to the property. The next day, Tran emailed the contact on the original Zillow post, asking if he’d cross-posted the property on Craigslist. A few hours later, the real James Basuino replied, confirming he did not. At that point, Alvin Tran realized he’d been swindled out of over $18,000. 

The Federal Trade Commission estimates that since 2020, roughly 65,000 renters were cheated out of some $65 million in rental scams, averaging to about $1,000 per person.

If you’re treading the San Francisco housing market, take precautions and protect yourself. The FTC warns that scammers will fabricate listings for properties that aren’t for rent or do not exist. Others will simulate legitimate listings from other platforms, stealing that agent’s identity to rob their clients. They will claim to be the very agent who gave you the tour and ask you to DocuSign a lease. Additionally, they’ll request personal information like proof of income, driver’s license, pay stubs, social security number, and credit scores. All reasonable requests—from a legitimate source. In the wrong hands, that information could easily lead to identity theft. 

Perhaps the most shocking part isn’t the considerable sum of money lost, but the sheer con artistry that resulted in its taking. The scammer didn’t just impersonate Jim Basuino. They had the real Basuino impersonate himself. It was a ruse, grafted onto a legitimate process, with abundant reliance on luck. The entire scheme hinged on pure chance that the victim would meet the real Basuino and fail to mention the Craigslist ad. Surely any conman worth his salt wouldn’t depend on such heinously unstable variables, but that’s exactly what happened.

However sophisticated the grift, it always ends the same way. A stranger absconds with your application fee, first and last months’ rent, security deposit, vacation rental fees. You on the other hand remain apartmentless, and more broke than when you arrived. Take time to verify all landlords and leasing companies. Ask if any of their listings are cross-posted elsewhere. Should you encounter a duplicate listing anyways, especially one promising lower rent, it’s a scam. Don’t fall for it.