Finding a long-term rental in an inflationary market is really challenging, and scammers know that and take advantage of this vulnerability.
Whether you are looking for an apartment or a house, scammers try to fool you in all sorts of deceptive ways. The good news is that this is the best way to identify and fend off these criminal scammers.
Follow this list to make sure a future rental property is legit.
Here’s what you need to know to avoid falling victim to rental scams. (CyberGuy.com)
1. Make sure the monthly rent isn’t too good to be true
If you’re looking for a rental property in an area and you notice that one listing is significantly lower than the other listings in that area, it could be a scam. The scammer could advertise that he is giving potential tenants a rare opportunity that will soon disappear, hoping to attract new tenants, out-of-state tenants, or tenants in a hurry to find a place to live.
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To make sure it’s not a scam, check other vacation rentals in the area you’re looking at with similar amenities. You can also use a rental calculator such as Hire Zestimate to see what the expected price of a particular rental will be, based on what’s on offer.
Before committing to anything, ask the manager or landlord why the price is so low, and be sure to keep a copy of all your communications with them. You can also use review websites like Yelp or Google Reviews to check the reputation of the host.
2. Check if the listing is legitimate
An important clue that a rental ad is a scam is if you come across the same ad on another rental site and the name of the person who posted the ad is different from what you originally saw. A scammer can simply obtain the information for a legitimate listing and change the contact information to make it appear as if they listed it themselves.
Always check to see if a rental you are interested in appears on various sites online, and if the contact details are different for everyone, it’s probably a scam. Also, be sure to use reputable rental listing websites such as Zillow, Trulia, or Apartments.com. These websites usually have a verification process to ensure that the property and the landlord are legit.
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3. Pay attention to how the ad asks for payment
If a landlord or property manager asks you to pay the rentcash, wire transfer, or money order, that’s a big red flag for a scam.Once you send money in those ways, you will have trouble tracking payments if the property turns out to be a scam.
Many legitimate rental listings ask you to make payment via electronic deposit from your bank account or by credit card or check. Some other larger properties may even have a website with a portal where you can pay online. These are all trackable options where there is little to no scope for getting scammed.
4. Don’t give out any personal information
Never give out your personal information before viewing a property.It is common practice for potential renters to be allowed to view a property without providing any personal information such as social security number, date of birth or credit card number, nor should you be asked to make any form of payment prior to viewing the rental.
If you can’t see the property in person, request an online tour or send an agent or a friend on your behalf.
5. Make sure it’s not a phantom property
Some scam artists even go so far as to give virtual tours to potential renters in places where properties are not available for rent at all. This is so that the potential renter believes the property is real and then becomes willing to hand over a security deposit.
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Always schedule an in-person or virtual meeting with the landlord or property manager early in the process. You can also always ask someone you trust to look at the rental property for you to make sure it is legit. You can also use online tools such as Google Street View, Zillow or Trulia to verify that the property is genuine and matches the photos and descriptions provided.
And if you’re still unsure, you can contact the local appraiser’s office or county clerk, and they’ll provide the property details on site. Be sure to verify all names, websites, and phone numbers in the listing, and read all reviews about the property manager or host if they have a website or social media.
Above all, trust your instincts. If something seems too good to be true, it probably is. Go with your gut and avoid properties that seem suspicious or landlords that seem overly pushy.
Were these tips helpful to you? Let us know if you have any rental scam red flags that we may have missed.
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