Protect Yourself From Rental Scams
Every week there seems to be either a new story about how hard it is to find a home to rent or own in Ada County, or a story about how great it is to live in Ada County. Those of us who live here know how lucky we are to have a place. However, for those who are trying to find a place here have to be extra cautious and wary of scams. Knowing how competitive the market is means people are usually trying to act fast to secure a rental before someone else gets to it first. This highly competitive market has created a situation ripe for scammers and con artists. The last couple of years the local police have seen a huge increase in the number of complaints filed by would-be renters who were taken in by a scam. If you are taken in by a rental scam you could consider yourself lucky if you only lose valuable time and energy trying to secure a property. Many have not been so lucky and have ended up losing thousands of dollars to scammers. Here are some helpful tips to protect yourself against possible scams while you search for a rental in the Ada County area.
Search Smart
Scammers like to use sites that don't charge any fees to list properties. Know about the sites that you use to search from and do additional looking on other sites too. Search the address of the property and see what comes up on other sites. Scammers usually use properties that are actually up for rent or for sale. Ensure that there are not different contact numbers listed on different sites. Alterations to photos or blurry photos should also be a red flag. Know the current market rates that you should expect to pay. If a typical 3 bedroom 2 bath house rents for $1,800 then be wary of one listed for $1,000. A deal that is too good to be true, is usually just that.
Go With Your Gut
Many who are the victim of a scam say that they knew something seemed off. In the current housing market it can be tempting to ignore your best instincts because it is so competitive to get a rental. Scammers know this and use it to their advantage. Don't fall for the trap. If the landlord cannot meet you at the property that is a big red flag. Watch out for renters that say they are currently out of the country or cannot show the home because someone is in the house. Do your diligence, drive by the home, see if someone is there. Talk to the current renter or neighbors if you can to get more information.
Don't Cave to Pressure
We understand that the current market makes you want to act with a sense of urgency. You should absolutely contact the landlord as soon as possible to secure a viewing and complete an application. However, do not let scammers prey on what they perceive as desperation. They will commonly try to pressure you for immediate down payment to hold the property so that they can, “know that you are serious.” Communicate your concerns and ensure that no money is exchanged without paperwork completed. No matter what excuse they give you, never give your money electronically. At least for the first payment, insist that they take a check. Scammers rely on digital services like Venmo and wired money. Once the money is wired or transferred via an app that money is gone.
Remember, any good landlord should appreciate your diligence and understand that there are many scammers out there. Until you walk through the property and sign a rental agreement, you cannot assume any property is yours. When a perfect property comes up it is hard to resist the urge to do anything and everything to secure it as yours as fast as possible. Search smart, trust your gut, and don't let yourself get pressured into anything. Finding your home right now is incredibly challenging, don't add to that stress by losing money to a scammer taking advantage of this unprecedented housing market.