![]() An agreement without a lease has the potential to be a rental fraud.ĭue to COVID-19, this rental scam risks becoming more common, as many renters are moving toward virtually touring an apartment, remote lease signing, and limiting interactions with landlords and property managers. Month-to-month leases are common, but they usually include some form of agreement to sign beforehand. Don’t do it! Verbal agreements are uncommon and should cause suspicion. Some scam artists will ask you to rent an apartment or unit without signing any documentation. Work with a reliable real estate agent or broker so that you have someone to consult if something doesn’t feel right during the application process. How to avoid this rental scam: It’s important to never hand over cash on the spot for the background check. Red flag: If a landlord, or scam artist, asks for more than $30-$60 to pay for your background check, beware! This is a rental scam. Some scammers, though, will ask for an exorbitant amount of money, saying that’s how much they need from you in order to cover the cost of a background check. Often, the rental application fee will include the price of the background check. Landlords need to be sure that the people they’re signing an agreement with are exactly who they say they are. It’s typical (and quite common) for landlords to perform background checks on all tenants before move-in. The rental scam: Expensive background checks Although these may sound believable at first, it’s always best to avoid situations where you’re asked to pay money without meeting the landlord or at least having them show you the apartment first. Common excuses for not being able to show the apartment include the landlord saying they’re out of town, living overseas temporarily, or dealing with a family emergency. How to avoid this rental scam: The best way to avoid this scam is to ensure you’ve seen the apartment- through a virtual tour-and refuse to pay any money before doing so. They might also refuse to virtually tour you through the unit without payment first. Red flag: The scammer will tell you that they’ve had a high volume of interest in the unit and that, in order to reserve it, you need to pay a deposit immediately to claim it before someone else does. They will often take the listing and alter the contact information. They might take the details from this dream apartment and lower the listing price by hundreds, or even thousands, of dollars to make it seem like it’s available at an unbeatable price. Scam artists often copy listing details from an actual listing and create their own posting for the apartment. Behind that posting, there’s likely a scammer waiting to take advantage of your excitement. Have you ever been on a rental site and seen a listing that sounds perfect, maybe even too perfect to be true? Well, it probably is.
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