How To Spot Rental Scams
Hunting for a new apartment usually starts online, which makes unsuspecting renters more susceptible to real estate scammers. Con artists are after getting a huge upfront payment or using sensitive information shared with them.
This post will discuss how to spot and avoid rental scams.
Not eager to meet in person
Usually, real estate scammers want to avoid meeting you in person. They give you many excuses when they can't show you the apartment.
Con artists prefer to stay anonymous, and to keep it that way, they throw a lot of offers at you, like lower rent. Their end goal is to get credulous renters to make the security deposit before completing the lease agreement.
Short move-in date
It's a common practice for fraudulent landlords to give renters a short move-in timeline. This sense-of-urgency tactic puts pressure on the potential tenants and urges them to act quickly without being diligent.
Absent property owner
When searching for an apartment, you might meet a purported real estate agent claiming to represent a landlord on a vacation or business trip. Also, the con artist will be reluctant to meet you in person. Keep in mind that legitimate rental transactions will involve direct communication with the landlord or property manager.
Asking for a security deposit before touring
Real estate scammers will deploy different tactics to get renters to complete the lease agreement before taking a tour of the apartment. Before you make any deposit, it's crucial that you see and inspect the apartment beforehand.
Vague rental listing details
One of the red flags of a fake rental listing is the lack of essential details. For instance, you might see downtown Denver apartments with no photos or fake addresses.
Taking extra effort to verify the listing will help you avoid rental fraud. You can search for the apartment on trusty rental websites and Google Maps to weed out suspicious listings.
No background check
A fake apartment rental process usually would skip any tenant screening procedures such as credit checks or background checks.
Legitimate landlords and property managers typically screen potential tenants meticulously, which includes rental and financial history.
These rental scams are often directed toward renters with bad credits or criminal records, offering seemingly attractive rental deals without proper screenings. Rental application without a screening process is a clear indication of fraudulent activities.
Vague lease documents
Con artists usually provide renters with vague and poorly drafted lease agreements. Usually, it doesn't cover all the essential terms and conditions. The incomplete lease agreement aims to trick renters into depositing without any genuine intention of renting an apartment.
It's vital that you check the lease agreement. A complete lease document will include payment schedules, rental terms, maintenance responsibilities, and other agreed-upon terms and conditions.
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