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Real Estate
Top 3 Rental Scams to Look Out For
October 2, 2020
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Rental listing sites are full of scams, and if you are not cautious, you’ll fallinto the scammers’ trap. In this article, I’ll talk about a few rental scams and how to identify fraud listings on real estate listing platforms.

Top 3 Rental Scams

1.    Rent is too good to be true

It’s everybody’s dream to rent a house at an affordable price in a good location. Let’s say, you started searching on the rental website and found a deal that matches your dream location, and also, the rent is very cheap. But wait, isn’t it too good to be true?

If you see a rental listing that costs way less than other listings thenit’s a red flag. You’ll have to do more research before signing the deal. Most scammers target people who are first-time home renters, not tech-savvy or shifting houses from another state. If you fall under any of these categories and you finda surprisingly cheap deal, it’s recommended that you do more research.

However, a great deal can be real, but you should be very careful before signing any contract with the owner or property manager. Browse all the local listings of your desired area and talk with the people about the rental charges. Also, don’t forget to keep all the copies of your communication with the house owner and property manager.

2.    Rental Property is Listed for Sale on the Other Website

Before signing any contract with the owner or the property manager, you should search the property address on other websites and check whether it’s listed for sale or not. If it’s listed for sale on another website then talk with the homeowner or property manager and ask the owner to remove the property from the sale listing.

Many homeowners try to sell their houses but unfortunately, they cannot sell it. So, when they cannot sell their house, they list their house for rent to recover their money.

That’s why before renting a house, check the address on other websites, and if you find out that the house is listed for sale, you should back off from the deal or contact the house owner or property manager to remove the property from the listing.

3.    Property Manager Asks for Advance

Ifyour property owner or manager asks for an advance, it’s a big red flag. No homeowner or property manager will ask for advancebefore you sign a rental contract with them. If you see any rental listing like this, you should report the rental listing as soon as possible or contact the officials of the website.

First-time apartment renters mainly make these mistakes I mentioned here today. So, if you’re a first-time apartment renter, you should be very careful about this type of rental listings and consult with a good real estate manager for further help.

Conclusion

These are the top 3 rental scams you need to be careful of. If you’re a first-time apartment renter, it’s always better to consult with a professional real estate manager and make decisions accordingly.

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Richard Nevis

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