How To Identify and Avoid Rental Scams in Arizona
In Arizona real estate, scams are all too common. In today digital age, home buyers and renters are even more likely to come in contact with them. In fact, you might have had your own experience with a rental scams or heard stories from friends, family, and coworkers about theirs. Falling victim to a home rental scam can mean losing hundreds or thousands of dollars and be left without a place to live when moving day comes. Here are some of the common red flags home rental scams and how to avoid the most common rental scams.
Price is Too Good
No matter what the case is: whether buying a home or renting, always give the price special attention. A home that may seem like a bargain can secretly be a scammer looking to make a quick buck by drawing in someone who just wants to save money. As the saying goes, “If it’s too good to be true, it probably is”. When looking for a home to rent, always look for a home that’s priced fairly — not too high or too low. A home priced too low can potentially be a scam.
Copied Listings
Scam artists often copy listing details from an actual listing and create their own posting for the home. They might take the details from this home and lower the listing price by hundreds, or even thousands of dollars to make it seem like it’s available at an unbeatable price. The scammer will tell you that they have a high volume of interest in the home, and in order to reserve it, you need to pay a deposit immediately to claim it before someone else does.
Landlord Won’t Let Renters View the Property
When buying or leasing a home, it is customary to be able to walk through the home so the buyer or renter can see it for themselves. If the landlord will only let a prospective renter see photos on a listing instead of actually walking through the home, it’s a sign that the photos were stolen from somewhere else. Scammers often take pictures from other listings, use them as their own, and trick renters into signing a lease. When they get to the home they paid for, it’s completely different.
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Landlord Won’t Meet In Person
A good landlord will always have time for their tenants, whether they had already signed the lease or just prospective. If the renter wants to meet with the landlord and the landlord has excuses for why they can’t, it can be a big red flag. A scammer will tell renters that they’re out of the country, on vacation, ill, in the military, or anything that could be realistic. Some scammers even go the extra mile and direct the renter to a fake lawyer or real estate agent to speak with on their behalf.
No Screening Process
When someone is leasing a home, they want to know about their potential tenant and will screen everyone who shows serious interest. The screening process involves looking into the renter’s finances to see if they will be able to afford the rent, talking to past landlords to find out if there were ever any issues, and so on. If a landlord is ready to let the renter sign a lease before looking into any of these things, it’s a big red flag. A landlord should care about the type of person they’re allowing into their home. By skipping the screening process, it can be a sign that they intend to make quick cash off a scam.
No Lease Agreement
Some scam artists will ask you to rent a home without signing any documentation. Verbal agreements are uncommon and should cause suspicion. Month-to-month leases are common, but they usually include some form of agreement to sign beforehand. An agreement without a lease has the potential to be a rental fraud. Never rent without seeing a lease agreement first. Be upfront and ask to see a lease. If a landlord does produce a lease, make sure to read it carefully and ask questions before making any decisions.
Scams exist everywhere, and people looking to rent a home need to be especially cautious. The best way to avoid a rental scam is to see the home in person and meet the landlord before you move forward with any part of the application process. Never ever provide money upfront.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ and surrounding area, we hope you will consider us. Contact us today for complimentary consultation.
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