5 Home Rental Scams to Avoid
Rental scams are nothing new they have been happening for a long time now. What is new is how sneaky they are becoming. Here are the big red flags to watch out for when looking to rent.
Wire Money
Don’t ever, ever, EVER, wire money. Especially to someone you don’t know. Even if you have seen the house, never wire money for deposit or monthly rent. Use a check, it protects you. Think of wiring money as sending cash, there is nothing that can be done once it’s sent, unlike a check that can be traced. Walk away from anyone that asks you to wire money. It’s a sure sign of a scam.
They say they are out of the country
This is a big red flag, they want your to transfer money out of the country and promise to get you a lease and keys etc. If a person is REALLY out of the country and the rental is legit they will leave the rental with a realtor agency to manager for them.
Wanting security deposit or first month’s rent before you even see the property
This is another sure sign of a scam, why would you sign on a place that you have never seen? More increasingly landlords want you to pay the application fee. This is normal $30-$40 per person and that’s perfectly fine. They don’t want to be out the money if something comes back that prohibits you from renting.
The Email Tip Off
Many scams start with a listing below the normal average of the rental market in your area. It’s a great draw in. Your clue will be in your email. According to RentalScams.org here is what to watch for
- Does the email start out with Sir / Madam?
- Are there misspellings in the email?
- Are there character mistakes in the email? i.e Hello,my name is Susie.
- Is there excessive capitalization?
- Does the email reference God, UK, Cashiers Check, Doctor, Nigeria, Reverend, etc.
- Does the email refer to another person or agent?
- Does the email reference wanting to move in site unseen?
These are all big red flags this is a scam listing. Many scammers speak very little English and use translation software which results in the bad emails. Also if the email isn’t in great English or it’s in broken English that is a huge red flag. Something like “I to tell you have this house price is $2000 month”
The empty home scam
One of the newest scams when it comes to renting a house is the empty house scam. What happens is a scammers takes a house that is empty (normally due to foreclosure or not being able to sell) often changes the locks and then rents it out but they don’t even own the house! They even meet you to do a walk through and everything. One story I read was that a couple lived in the house for 15 months before finding out that the landlord they had been making payments too, didn’t even own the house! To avoid this by law your landlord’s name (s) have to be on the lease even if they go through a realtor. Google search the property record and make sure they actually own the property. Also ask to see your new landlords ID to make sure the name matches with the name on the lease.
If you are unsure, it is best to walk away from the listing. It could be the perfect place but it’s not worth it to be scammed and be out thousands of dollars.
What tips do you have for renters?
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