Beware Rental Scams

Beware of the seemingly perfect rental – it could be a scam. Before you hand over your money, watch out for the warning signs of common rental scams.

You finally found a rental property to call home. It’s the perfect location, the pictures look amazing, and the price is much lower than you were expecting to pay. All you need to do is send the landlord a deposit and the first month’s rent to seal the deal.

STOP! Before you do that, make sure you’re not sending money for a property that doesn’t exist. Rental scams are yet another opportunity for scammers to steal money. These scams target both new and existing renters, so it’s important to know what to look for.

Tips For Spotting A Rental Scam  

Pictures Look Too Good  

If a picture shows a beautifully renovated rental at a price that’s well below market rate, be cautious. Glamour photos can easily be found online or even generated via Artificial Intelligence (AI). Pay close attention and reverse search an image with tools such as Google Lens.

Listing Has Errors

Scammers are smart but often don’t have very good grammar. Listings that have grammatical mistakes and other formatting errors could be signs of a scam.

Pressure To Sign & Pay Right Away

A legitimate landlord or rental agent will typically show you a space before renting it. If you’re being pressed to sign a contract or pay a deposit without seeing the property first, this is a red flag. Especially if they insist you pay with a digital payment platform like Zelle^® or Venmo.

There’s No Credit Check

Landlords and rental companies typically conduct a credit check to determine if a renter is creditworthy. While some places don’t require a credit check, be careful. Ensure the representative isn’t taking advantage of your need for housing by offering a fictitious home with lenient eligibility requirements.

Ways To Avoid Rental Scams  

Always Ask To Tour The Property

Don’t rent a place without seeing it. Schedule a time to tour the property to make sure it exists and looks like the advertisement.

Skip Listings That Look Suspicious

Scroll past spam listings and be skeptical of listings that are priced well below market or contain grammatical and spelling errors. It’s also generally safer to use trusted real estate platforms to seek listings. It’s easy for anyone to create an ad on Facebook Marketplace, for example.

Don’t Send Money In Advance  

You should never be charged a fee to tour a property, so turn away from any request for an upfront payment. Avoid sending any seemingly legitimate payment like a security deposit or first month’s rent without seeing the space and meeting the landlord or property manager. If the landlord comes up with a convincing story as to why they can’t meet, it’s best to wait.

Slow Down & Ask Questions

Don’t allow yourself to be bullied or pressured. If you do, you could be playing right into the hands of a scammer. Take your time, see the property for yourself, and ask all the necessary questions to make sure this is the place for you.

Summary

Finding a new place to rent can feel stressful but it’s important to remember to look for red flags – or it might cost you thousands of dollars. Be vigilant as you look for your next place to live.