Common Rental Scams
Although there are a number of ways that scammers try to hoodwink people into giving them money, there are a few common rental scams you should be aware of. Probably the rental scam people encounter most often is where a person claiming to be a landlord advertises a property they don’t own, or that doesn’t exist.
One more common tactic is to create deceptive or downright bogus advertising for a property that does exist but is not owned by the person listing the home for rent. These scammers may try to pressure you into sending them a deposit right away or try to rush you into signing lease documents without touring the rental property first. Unfortunately, it’s estimated that up to 5.2 million renters have been scammed out of money by fraudulent listings.
Watch for Warning Signs
To prevent yourself from being scammed, there are usually some warning signs that things aren’t fairly right. If you know what these signs are, you can spot a rental scam before you get taken in.
First, don’t forget to do your research. Examine the ad carefully for spelling errors, vague information, or a deal that sounds too good to be true. Chances are if it seems like an incredible bargain, it’s probably a scam. Make sure to talk to the professional Toano property manager on the phone and arrange to view the property in person. If they demand a deposit first or claim to be out of the country, both of those are big red flags.
The same thing is true if the landlord insists on dealing only in cash or asks for a wire transfer. In the first case, cash-only rentals are unethical and probably illegal, so it’s best to avoid them. Requesting a wire transfer is a tactic commonly used by scammers because, like cash, wire transfers are unrecoverable once sent. No matter what they claim the money is for, never give a landlord a deposit without signing a lease first.
Best Practices for Safe Renting
One of the finest ways to avoid getting scammed as you search for a rental home is to go through a reputable management company. While local property management operations may offer a few listings, there is still no guarantee that they are committed to fair, ethical rental practices. The safest course of action is to choose a company with national credibility and a reputation for high-quality customer service. What is more, choosing the right property management company to rent from can make finding and renting your new home easier, narrowing your options to only those that fit your budget and lifestyle. This is the smarter and more efficient way to find your next rental home.
If you are looking for a new rental home but want to steer clear of any scams or misleading ads, your best option is to contact Real Property Management VA Peninsula. We are a top-ranking national company with local offices, the best of both worlds: you’ll get local rental market expertise from a respected organization you know you can trust. Contact us today or check out our rental listings online.