What Are Rental Scams?

Rental scams are deceptive schemes where individuals try to steal money from unsuspecting renters looking for a place to live. Here’s how these scams work and how you can protect yourself:

Common Rental Scams:

• Fake Listings: Scammers might advertise properties that don’t even exist or are already rented out. They use attractive photos and descriptions to lure potential tenants and then pressure them into sending money for deposits or application fees before ever seeing the property.
• Urgency Tactics: Scammers create a sense of urgency by pressuring you to act quickly, claiming there are many interested applicants. This tactic is designed to cloud your judgment and rush you into making a financial decision.
• Impersonation Scams: Scammers might pose as real estate agents, property managers, or even the owner of a property. Be cautious of anyone who heavily pressures you to send money without proper verification.

Red Flags to Watch Out For:

• Unrealistic Rent Prices: If the rent price seems too good to be true for the location and property type, it probably is.
• Inability to See the Property: Never send money for a rental property without seeing it in person, or at least having a trusted representative do so on your behalf.
• Requests for Money Transfers: Legitimate landlords typically won’t ask for money transfers or gift cards for deposits or rent payments.

How to Protect Yourself:

• Use Reputable Platforms: Look for rentals on reputable platforms with a history of vetting listings.
• Verify Ownership: Try to independently verify the ownership of the property through public records or the contact information of the property management company.
• Meet in Person: Always insist on meeting the landlord or property manager in person before finalizing any agreements.
• Never Pay Upfront: Don’t send money for rent, deposits, or application fees without a signed lease agreement and verification of ownership.
• Trust Your Gut: If something feels off about a listing or the person you’re communicating with, don’t hesitate to walk away.

By following these tips and being aware of the common scams, you can avoid falling victim to rental fraud and protect yourself financially when searching for a new place to live. If you suspect a scam, you can report it to the platform you found the listing on and consider filing a report with the Federal Trade Commission (FTC).