HOUSTON - With rental scams on the rise, prospective tenants need to stay vigilant while searching for a home.
Scammers often prey on individuals eager to secure housing, using fake listings or fraudulent practices to steal money or personal information.
"According to a release in 2022, research conducted by Apartment List revealed that 5.2 million U.S. renters have lost money from rental fraud."
It is a common scam that involves fake rental advertisements, which involves a scammer taking a legitimate listing that is for sale and creating an ad on various sites like Craigslist or Facebook Marketplace at an enormously discounted rental price.
The scammer attempts to collect a deposit or lease payments from a potential tenant and once they do, they disappear, and the renter never hears from them again.
Follow these dos and don'ts to protect yourself during your rental search:
DO: Verify the listing
Before pursuing a rental, research the property's legitimacy. Use trusted rental platforms, and cross-check the listing with other online resources to ensure consistency. If possible, verify the property owner's identity through tax records or public databases.
DO: Visit the property in person
Whenever possible, tour the property in person. If you're searching remotely, request a virtual walkthrough. Scammers often use stock photos or create fake listings to lure in unsuspecting renters.
DO: Be wary of unusually low prices
If a rental price seems too good to be true, it probably is. Compare the rate to similar properties in the area. Scammers often use unusually low prices to attract victims quickly.
DO: Get everything in writing
Legitimate landlords provide lease agreements outlining terms and conditions. Review the contract thoroughly before signing, and don't hesitate to ask questions about unclear terms.
DON'T: Send money without meeting the landlord
Never send deposits, application fees, or rent payments before meeting the landlord or property manager in person. Scammers frequently request money upfront and then disappear.
DON'T: Share sensitive information prematurely
Avoid sharing personal information like your Social Security number, bank details, or driver's license until you've verified the legitimacy of the landlord and property.
DONT': Feel pressured to act quickly
Scammers often create a sense of urgency pressuring potential renters into committing without proper due diligence. Take your time verifying listings and understanding terms fully before proceeding further down this path!
Sings Of A Rental Scam:- The listing contains vague/inconsistent details
- The payment method requested includes unconventional methods such as gift cards/wire transfers The Landlord Avoids Answering Basic Questions About The Property