As more people come around the rental, leasing scams continue to appear. Fortunately how the rental scams work and how to avoid falling for them goes a long way when it comes to protecting yourself. Before sharing how, here are some of the most common rental scams to watch
- Phantom rental scam :. In this scam hire someone made a list for a place that does not exist. These false ads often boast attractive prices and desirable amenities. The goal: to get you part with your money before catching the
- multiple rental scam :. This implies that anyone renting a property and show it to many prospective tenants. The scam artist will then collect the security deposit, the first month's rent and the cost of several people before skipping town.
- Rental Owner Rental Scam: This is similar to the multiple rental scam. The main difference is the con artist claims to help someone else rent the property. The scammer will collect security deposits, rent and expenses for the first month before the legitimate owner of the catch on
- rental online scams :. They can burn both the tenant and landlord. In those targeting tenants, a scammer will upload a picture of a property to an online rental site. The scammer hopes they can find someone to wire security deposits, rent and other costs so they can take the money and run.
side of the owner a potential tenant "accidentally" overpay first month an owner. The tenant will then ask the owner to wire the "overpayment" for him. When the owner made the money before the initial clears the bank, the owner loses the money he gave to the "overpayment." The scammer, meanwhile, cancel the checks given to the owner.
5 tips to protect against rental scams
- never money. A wire money demand is one of the safest of a rental scam signs. once the money is wired, there is no way to ever recover.
- sign a lease before you hand over the cash. you should never put a security deposit or other money before you have met the owner in person and signed a lease. also take the time to seek owner and registration crooks will often hire the same list on various websites.
- be very careful in dealing with long-distance owners. If you can not meet in person before signing a lease or hand over the money, it's best to play it safe and go on vacation.
- Refrain from sharing personal information. A potential owner should never ask for your bank account number or social security number.
- Do not do business with someone claiming affiliation with Zillow. Zillow is a real estate online database company that has never been involved in transactions between individuals. Anyone offering to be affiliated with Zillow this way is a crook.
- Report any potential rental scams. If you suspect a scam rentals, file a report with your local police department and the Federal Trade Commission.
Once you find an owner trust and go, you are free to enjoy the benefits of being a tenant. Just do not forget insurance tenants it is an affordable way to protect your assets and get peace of mind. An insurance professional as an Erie Insurance agent can tell you more about it and you get a free quote.
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