Searching for a new place to call home can be exciting, difficult, and stressful, all at the same time. Over the last decade, the rental process has become much simpler with the rise of online listings, virtual tours, and digital applications. However, this convenience unfortunately comes with a downside as well: rental scams.
Rental scams can be conducted in different ways. Scammers may post fake listings online, use fake or photoshopped images, leave out crucial details about the property, or try to fluff up the listing by adding amenities or features that the community doesn’t actually have. We created this guide to help renters stay informed and protect themselves from fraud.
Do Your Research
Before committing to anything, be sure to do a deep dive into the rental property, the landlord or management company, and the area the rental is in. Look up the rental price for similar units in the area to ensure the rate is reasonable. If a rate seems too good to be true, it probably is. Cross-check listings on multiple websites such as Apartments.com, Zillow Rentals, Rent.com, or the property management company’s website. Be cautious of duplicate listings with different contact details or listings with very few or no pictures.
Never Pay With Cash or Wire Transfers
If a landlord is asking you to pay cash or via wire transfer, it may be a scam. Using secure payment methods such as checks, credit cards, or online payment systems can protect you from fraud. Avoid wire transfers and prepaid debit cards, as these are difficult to trace and recover.
Read the Lease Carefully
Before you make it official, be sure to read your lease carefully and thoroughly. A lease legally binds you to the terms written in it. A legitimate lease agreement should include your rent fee, any additional fees you are responsible for, maintenance responsibilities, community policies, and lease duration. If the lease is vague, contains errors, or something just seems off, consult a legal expert before signing.
Verify That the Landlord or Property Management Company is Legit
It should be pretty easy to determine if a property management company is legit. Do a quick Google search to see if you can find their website, any articles written about them, or any of their online listings. If it’s a reputable management company, it should have a decent online presence. Landlords can be more difficult to verify. Search the landlord’s name and contact details online to confirm their legitimacy.
Trust Your Gut
At the end of the day, if something feels off or just too good to be true, it probably is. If you’re feeling rushed or forced into something, trust your gut and know when to walk away. If you find a listing that you believe is a scam or if you’re worried you’ve been a victim of a rental scam, be sure to notify the proper authorities right away. To report a rental scam, contact the Federal Trade Commission (FTC). The FTC is the main agency that handles rental scams. You should also contact local law enforcement and the platform where the listing was posted.
Staying informed of potential rental scams can help you avoid falling victim to fraud. We hope this information helps you confidently navigate the rental market and find your perfect new home.
Are you looking for an apartment in Alabama, Georgia, or Mississippi? Foshee Residential is a leading property management company in the Southeastern United States, managing almost 10,000 units and 60 communities. Explore Foshee Residential’s list of communities here.
