In many markets across the country, apartment and home rentals continue to be scarce after the housing boom crash. Many who foreclosed or short sold their homes at the end of the last decade are still forced to rent because their credit hasn’t recovered. People also choose to rent to remain flexible if new job opportunities arise.
These scenarios and others have forced rent up and inventory down. Such a supply and demand scenario makes the housing rental market ripe for scammers who try to take advantage of a prospective renter’s desperation.
Unfortunately, it’s far too easy to steal your sensitive information in these scams. Watch for these red flags when searching for a rental.
Landlords Who Don’t Want to Meet
All too common is the scenario in which you respond to an ad only to be told by the supposed landlord that they are out-of-town or out of the country so you must send the application and the money sight unseen.
No matter how much you need a place to live, don’t do either. Legitimate landlords will show you the property in person or via an agent such as a Realtor or a property management firm. Know who you are meeting, do your homework in advance and never send personal information or money without first seeing a property in person.
The Price Is Too Good to Be True
Scammers often lift real property information from legitimate ads, using photos and even contact information to build their scam ads that lure people with super low prices.
Again, do your homework. RentalScams.org suggests comparing rental prices in the neighborhood or locale you are considering. Consider using a reputable rental property search site such as ApartmentGuide.com and consulting any Realtors you know for expert advice.
If you see a rental ad that seems too good to be true, scroll deeper into a website and look for a duplicate. Report anything that seems fishy to the web administrator. And again, if you respond to an ad, never send any information or money without going inside the rental property.
Know Who You Are Dealing With
Once you agree to meet a landlord or a landlord’s agent, investigate the person you are meeting ahead of time to make sure this person has the legitimate right to lease the property. Or investigate the person after your meeting but before submitting application information.
All real estate agents are licensed, so check an agent’s real estate license to make sure the person is legit and has an active license. When meeting a landlord, ask to see a driver’s license and get a copy of it. In public county records you can look up proof that the person who purports to be the owner actually is. Check with potential neighbors and verify the owner is someone legitimate.
Read Ads Carefully
While not all who advertise rentals will have a perfect command of English, be wary of ads that seem poorly written and have bad grammar, misspellings or other red flags. Nigerian scammers are often behind ads that mimic scam emails. Communications with such scammers often end with “God Bless.”
Scammers also use disposable phones and phone numbers, sometimes called “burner” numbers, as well as temporary email accounts such as Yahoo or Gmail that look like legitimate email.
If an ad doesn’t list a property address, request the address and conduct a drive-by before asking to view the inside. If that isn’t possible, Google the location and find it on maps to make sure that the picture in the ad is the same property as the one shown for that address.
If you suspect a housing rental scam in process or find yourself having been scammed, report the scam right away to local law enforcement and keep looking.
