How to identify a rental property scam
The opportunity is too good to be true
A rental property scam may start out where the rent may seem too low for the neighborhood or property shown in the listing? To entice renters, rental property scammers advertise deals that may seem too good to be true. They’ll stress urgency and that if you don’t act quickly, the deal will be gone fast.
They will apply pressure to send personal information or money before you’ve seen the property
A listing contact asking for personally identifiable information is a sign that they may be attempting identity theft. This is very different from tenant screening, which is a process that typically does not start until after a prospective tenant has toured the unit and submitted an application.
The person listing the rental is unwilling to meet
They say they will mail you the keys???? But the supposed landlord, property manager, or agent can’t meet. They will have some excuse not to meet like they’re out of the country or they had to tend to a family emergency out of town. The stories will vary, but remain vigilant and proceed with caution; this is likely a bad sign.
Requests to send payment using untraceable payment methods
Is the listing contact directing you to a sketchy website for payment? Do they want you to pay an application fee or deposit via cash, wire transfer, cryptocurrency, gift cards? These methods are infinitely more difficult to trace or track. Being asked for any payment or payment details before you’ve seen a property is also a red flag.
You can’t verify the property is actually for rent
Another rental property fraud tactic involves listing properties that don’t actually exist or aren’t actually for rent. They usually start with a fake listing, but the other scenario is where the swindle may involve a showing either in-person or virtual, of a property that is usually one that’s vacant. If you can’t track a listing back to a property management website, office, or government record, proceed with caution.
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