Unfortunately, scamming does exist and one area that can be targeted is the rental market. In this blog, we’re letting you know how to avoid rental scams.
Finding a new rental home can be a challenge, and just as you find the perfect one, it might be taken off the market. While this can occur, it’s very important not to rush the process, as this is when people may fall victim to scams.
What is a rental scam?
Rental scams can come in many forms. One of the most common scams is that someone is presenting themselves as a landlord or letting agent. They may have a property marketed online, but the property may not exist.
Other rental fraud scams can include people attempting to rent out homes that aren’t theirs to rent out. You might even find the same property listed elsewhere by genuine landlords.
Different property scams to look out for
Fake listing
Fake property listings can be posted on any platform, but they are most commonly found on platforms such as Facebook Marketplace and Gumtree. The photos used are often taken from other property listings online. Make sure you carefully read each rental listing.
Fake landlords
Rental scammers may say that they are currently out of the country. They will then often ask the prospective tenant to send money to ‘secure’ the property. This could be a percentage of the monthly rent. They may also pressure you to sign a false tenancy agreement.
In normal circumstances, tenants would only be asked to pay a holding deposit after viewing the property. It is not advisable to pay this deposit unless you have seen the property.
Email scams
Many tenants report scam emails asking them to pay money to secure properties. These phishing emails will usually come from an email address that looks like a large company but is not one. Do not follow links from emails – instead, do your own research to ensure it is a legitimate listing.
How to avoid rental property scams
Now that you know more about the different types of scams tenants may experience, it’s time to learn how to avoid them.
Remember, if something looks too good to be true, it probably is. You should always ask for professional advice if you are unsure.
Do not send money until you have seen the property
Many scammers leave renters feeling like they have to send money immediately or else they will miss out. This is not the case and a good landlord and letting agent would not expect this from you. You should not be asked to send any money for deposits until you have seen the property and met with the letting agents.
Attend property viewings
We know how challenging it can be to find a rental property when the demand is so high. However, you should always take the time to view the property before you agree to rent it. A genuine landlord and great letting company will always encourage you to view the property in person.
Stick to local agents
Local letting agents are much more reliable and trustworthy. If you rent through a local agent, you will often find the office is nearby. You should also ensure that you have access to a phone number and email address to contact them. Many poor letting companies will make it difficult for tenants to contact them.
Other signs to look out for include errors in the listing, the photos look too good to be true, the price is too low compared to the rest of the market, there are no tenant checks and you can’t visit the property in person.
It’s so important to ensure that the company is legitimate before you decide to rent through them. If you’re ever unsure, you should ask for advice. Do your research into the property they are offering and ask others for a second opinion. Always read the reviews of the lettings agency you plan to use. We hope this blog has been helpful on rental scams.
We are a dedicated property management company covering Sheffield, St Annes and Manchester. We always ensure that our tenants view properties and have the opportunity to ask any questions they may have.
Are you looking for your next rental property? Contact our friendly team today to see what we have available.
