When looking for a rental, whether it’s for a long-term place to live or for a short-term vacation, it’s important to be aware of rental scams so that you don’t fall victim. They can be hard to spot, but here are five helpful tips to help you prevent falling victim to a rental scam:
Don’t e-transfer money if you haven’t seen the apartment or met anyone
It’s never a good idea to send money to someone you’ve never met for any reason, let alone for something as large as a home rental. We see this on a smaller scale all the time with sports and concert tickets. Always ensure that you are able to meet the landlord and visit the rental prior to signing a lease or making payments. If you can’t visit in person, have a family, friend, or realtor visit on your behalf.
Know your rights
If a landlord is asking you to pay anything more than the last month’s rent and/or a refundable key deposit, be wary. It is illegal to ask for a security or holding deposit, a cleaning deposit, pet deposits, or any other upfront fees.
Never pay with cash, wire transfer, or hard-to-trace platforms
These forms of payment are impossible to track. You should pay with a bank cheque or money order. If paying with an email money transfer, only do so when you can be certain of the legitimacy of your rental arrangement. One of the most common platforms that scammers use is Western Union because once the money has been sent, it’s gone.
Tip: Always ask for a rent receipt upon payment.
Do your research
One of the best ways to check whether the landlord is a reliable person is by requesting to speak to current tenants or people who have recently rented the property. A quick internet search is also recommended. Make sure you ask for a copy of the rental’s property insurance as it lists the owners and their home address.
Just as landlords like to research their tenants, a good landlord will understand why you are asking for this information and provide it to you.
Be wary of pricing that is too good to be true
When the stakes are high, people feel pressure to secure a good opportunity. This is especially true of the housing market right now, and can also be seen with popular vacation spots.
If a property is not appropriately priced, chances are something isn’t right. As well, it’s important to be wary of amenities that could increase your pricing. If you’re paying for a dishwasher, for example, ensure there is actually a dishwasher in the rental property.If you suspect a rental scam, report it to your local authorities as soon as possible. If you need to pay for rent for an international stay, contact our team today! We’d be happy to help and can often spot scams before you fall victim to them.