Is that rental…to good to be true?

Rental scams are real and can cost you a lot of money.  If you encounter any of the following you should stop and think before going any further.  Don’t get swindled!

1.       Landlord won’t meet you in person or insists sight unseen.

If the landlord refuses to meet you or sends to you a property to view it on your own, and you see a for sale sign, this is a problem.  Even if you’re not able to meet in person, you should always be able request a real-time video walkthrough of the rental, so you know that the lease exists.  A real landlord would want to meet in person.

2.       They ask or a deposit or rent before signing a lease

If landlord is asking for a money, rent or deposit before signing a lease hit the pause button.   Many times, the scammer says they live overseas, and they will give you the keys with the wire transfer this is a dangerous scenario.    In my experience, any reputable landlord that does not live in the immediate area will have a local REALTOR or Property Management company to handle logistics.

3.       The price is too good.

If the asking rent  is well below market value or other rentals in the area it a sign of potential frauds.  Some owners don’t know fair market value or there may be extenuating circumstances for the below market rent.  Ask questions on how they came to their asking price on rent.

4.       No tenant screening process

Another red flag is no tenant screening process.  If the landlord isn’t screening for credit or criminal history, they are unconcerned with choosing a good tenant.  It might be inexperience, but ask why they are not running an application check.

The easiest way to avoid a rental scam is working with a licensed real estate agent in your search.  In most instances  the landlord will compensate the real estate agent for bring a qualified tenant to process.   Before your next lease renewal, get educated, seek out assistance and contact a REALTOR