adminThey could save you a huge headache when trying to put an affordable roof over your family’s head.
Are you looking for a new place to rent because your current monthly payment is too high? If so, here’s the last thing you need to happen: Having a scammer steal your hard-earned money. And even if they don’t take your money, they could take your sensitive info, which could be even worse.
Many scammers know that people in need are constantly looking for places to rent. They use this knowledge to set attractive bait to hook victims, and if you get hooked, you could be facing a nightmare without even filling your need for housing.
To ensure you don’t fall into a real estate rental trap when all you’re trying to do is find cheaper rent, follow these dos and don’ts:
Do:
1. Use the Internet to your advantage.
A few minutes (or even seconds) of research can help ensure that the real estate listing you’re looking at is not a scam. Search for the listing elsewhere to see if the info checks out. Also, search for the real estate management company or the owner. Other bits of info that may be useful in your search include the address (if shown) and the phone number.
What should you do if you find the same ad under a different listing or with slightly different data? Stay away, as it’s probably a scam.
2. Get everything in writing.
You want to know all of the details of your rental agreement in writing, not verbally. Get documentation that lists the monthly rent, deposit, fees, and maintenance. You should also get a copy of the lease that is signed by both parties.
If the agent or owner doesn’t want to give you this information, you’re probably dealing with a scammer, as it’s a basic part of doing business.
3. Know what real estate scams are currently hot.
Scammers are constantly changing their cons to match current events. For instance, COVID-19 has brought about its own set of scams that may not have existed before the pandemic.
To know what to look for ahead of time, do a basic online search for “rental scams” and other similar phrases. You can filter the results to make them more recent.
Don’t:
1. Pay a viewing fee.
You should never have to pay to see a rental.
2. Pay a deposit or rent before signing a lease.
Remember, you want everything in writing before exchanging money.
3. Send money overseas.
This is a surefire sign of a scam. Once that money is sent, you’ll probably never see it or hear from the agent again.
4. Hand over personal information before verifying an agent or owner’s identity.
Stealing your information can be just as valuable as cash nowadays, so hold onto it dearly.
Scammers can work wonders with Social Security numbers.
5.Give into pressure.
If you feel uncomfortable, walk away. Pushy sales tactics could be signs of a scammer who’s looking to rush you into making a mistake.
6. Wire money.
Look at a wire as cash.
Once it’s out of your hands, you can’t get a refund. If they ask you to wire money for the first and last month’s rent or as a deposit, move on.
