- How Do I Rent An Apartment In NYC
How Much Rent Can pay?
What Neighborhood Fits My Criteria?
Different Type Of Rental Properties
Rent Controlled or Rent Stabilized
- Best Time To Rent An Apartment
No Fee Vs Fee
Find Low Income Or Affordable Housing
Features And Amenities
Difference Between An Agent And Broker
- How To View An Apartment
How To Start An Apartment Application
Signing A Lease Made Easy
Scam And Fraudulent Property Posting
How To Avoid Bait And Switch
- Renters Insurance and Renters Right
When Moving into a new apartment
Looking to Tip Your Doorman?
Get Your security Deposit Back
- Looking to Break Apartment My Lease ?
I want to Rent My Apartment to someone
International Students Guide World wide
How to Find a Roommate
Are You Ready? Apartment Search
Tips for Avoiding Scams and Fraudulent Listings
Your search for dream apartment can become the worst nightmare of your life if you get caught by real estate scams. Scammers are there in every industry and the way they tangle you is hard to avoid. Rental fraud is when a landlord or agent pretends to sell a property which does not exist. These fake owners collect processing fee, security deposit and application fee before you identify them as scammers.
Types of Rental Frauds
If you are aware of rental fraud types, chances are you are going to avoid false listings. Here are the most common rental scam types:
Bait-and-Switch: A property is advertised on a lower mortgage rate and the scammer collects deposit fee before you come to know the higher rate of the property.
Already Leased: As the name suggests, a scammer collects deposit fee for a property that is already leased.
Hijacked Ads: A scam artist advertised a real property with fake contact information.
Phantom Rentals: A real or fake landlord lists the properties which do not exist or aren’t rentals.
How to identify a Rental Scammer?
There are some warning signs which can help you identify scam listings:
- Often the rental scammers show that they are out of town. They claim that they have a property which you are looking for but can’t meet you personally.
- Most of the fake agents pretend to be military soldier, UN worker or a missionary. If your agent is one of these, chances are he is making you fool.
- He/she will call you in odd hours which is an indication the scammer is working from overseas.
- If the property owner is asking your financial information right from the start, be careful and don’t do that.
How to avoid Scams and Fraudulent Listings?
If the listing looks genuine to you, there is still a chance of fraud and you would never want to lose your life saving to a scammer. Take the following steps to be on the safer side:
- Visit the Property in Person
- Ask to speak to current renters
- Only contact reliable Real Estate Companies
- Ask for Real Estate License to your agent
- Never pay with Cash or Wire Transfer
- Double-check prices and rent before signing the lease
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