Renting an apartment is an exciting time, as it is often a milestone for most people. Maybe you’ve started your first real job or just graduated from college. However, finding the right place will certainly have its challenges — like dealing with fake listings.
Here are some common rental scams to look out for and how to avoid them.
1. The Owner Won’t Meet in Person
It’s not a good sign if the person listing says they’re unable to meet in person. While people are busy, they should be able to do an in-person walkthrough in a reasonable timeframe. If they seem reluctant or claim to be out of the country, this could be a sign there isn’t actually a property to show, and they’re avoiding being reported.
A genuine landlord or property manager will make time to meet in person to get to know you better. Plus, they’ll also want to make sure you, yourself, are a genuine renter. Therefore, the best option for both parties is to get in touch via the listed number and suggest an in-person meeting before any paperwork is signed.
Now, if you’re moving long distance or have another extenuating circumstance, then a virtual tour could also be a good option. Ask your contact to start a video call and show you around the property that way. Then, you can use the following points to further judge their credibility.
2. The Price Is Too Good to Be True
Are you on a strict budget? You’re not alone. Scoring a reasonable price is usually an important factor for an apartment hunt.
However, be careful looking at residences that are surprisingly below market value. This could indicate a fake or unrealistic listing, with the contact looking to attract a good amount of attention to see who bites. With competition high, they might be able to pressure someone into sending over money to secure such a great deal.
To prevent the low pricing scam, do thorough research on the market value prices in your area. Look at comparable apartments with a similar size and amenities to the one you’re looking for. Also, try searching online listing sites for more information. If you know better what to expect, you’ll easily spot any phony listings in your apartment search.
Of course, this isn’t completely a black and white approach. Some landlords are renting out a smaller space or might just be looking to cover a few expenses with a well-priced apartment. It’s flagging a combination of alarming signs that will help you make your final judgment.
3. The Owner Asks for a Security Deposit Before Signing a Lease
A scammer is usually after your money. So, this is an easy way for them to collect it and then run off. The scammer may also ask you to wire money because they’re overseas.
This is a definite deal breaker – especially if you’ve only spoken to them online. All parties should sign paperwork before large sums of money are sent off. If you do send money and later find out it’s a scam, contact your bank and law enforcement immediately, then monitor your credit reports to spot any suspicious activity.
There’s one exception. Application fees around $35 to $75 are pretty common expenses for renters to make before signing a lease, particularly in a competitive market. The money goes towards background checks. With that in mind, it’s still best practice to be very sure of a lease before paying any application fees.
4. Someone Copies a Real Listing
One simple strategy for con artists is to use real ads to run their scam. It’s less work for them, since all they have to do is copy images and text and then tweak the ad a little. Maybe they lower the price, change the contact information, and leave the rest be.
One way to avoid getting tricked is to check listings on multiple websites — some property management companies and owners will add a listing on Zillow, Facebook and other platforms. If you see two similar ads, one could be a scam. Research the address of the place listed and make sure it actually exists and is indeed listed on the market.
Here are some more tips indicating the ad may be fake:
- It uses a lot of personal details.
- It doesn’t have enough details.
- The photos are suspect or look extremely outdated.
Be Aware of Possible Rental Scams
Rental scams are definitely a thing these days, but you can be better prepared for them. Doing your research before you start apartment hunting in earnest will help you know what to expect from a genuine landlord.
Lastly, the best preventative measure is to set clear boundaries for yourself — don’t send any money to a person without seeing the property. Scammers are looking for easy money, so a little due diligence will ward off the common fraudster.
