Avoid Scams & Fraud
When you’re sifting through listing after listing months into your apartment search, you may be tempted to go for the listing that has everything you’ve ever wanted in an apartment (dream location, every amenity imaginable, etc.) for hundreds of dollars under your budget. But unfortunately, when a rental seems too good to be true, it usually is.
However, rental scams can be easy to spot once you know what you’re looking for. Watch the video below and review these real-life examples of rental scams for information on what to look out for during your housing search.
Rental Scam Red Flags:
- Silent Landlords: If communication with the landlord feels off or you're met with excuses about their unavailability, exercise caution. Legitimate landlords typically maintain open lines of communication.
- Questionable Services: Be cautious of services offering lists of rent-to-own homes for a fee. Stick to free resources to minimize the risk of being misled.
- Too Good to Be True: While low rental prices are appealing, they could signal a scam. Research market rates to ensure you're not falling for unrealistic offers.
- Payment Before Viewing: Avoid making payments before inspecting the property. Legitimate landlords won't demand upfront payments without allowing you to see the place first.
- Pre-signing Leases: Never sign a lease without visiting the property. Insist on viewing the premises before committing to any agreements.
- Unrealistic Prices: Be wary of apartments priced significantly below market rates. Trust your instincts and conduct thorough research to avoid potential scams.
- Lack of Screening: Landlords who skip tenant background checks may pose risks. Ensure proper vetting processes are in place to protect yourself.
- Excessive Fees: Watch out for landlords charging exorbitant fees for background checks. Stick to reasonable charges to avoid unnecessary expenses.
- Incomplete Leases: Review lease agreements carefully to ensure all terms are clearly outlined. Avoid agreements with missing or vague information.
- Protecting Deposits: Document the property's condition to safeguard your security deposit. Understanding your rights can prevent disputes during move-out.
Safety Tips:
- Inspect Properties Personally: Visit potential rentals in person to assess their suitability and legitimacy.
- Meet Landlords in Person: Face-to-face meetings with landlords can help establish trust and verify legitimacy.
- Request Written Agreements: Insist on signed lease agreements to protect yourself from verbal agreements.
- Review Lease Terms: Take time to understand lease agreements fully and seek clarification on any unclear clauses.
Found a Potential Rental Scam?
If you have suspect a potential rental scam, don't hesitate to report them promptly and include any relevant information you can, including copies of your conversations and any transaction information. Remember, you don't have to be certain it's a scam to report it.
To report a potentially fraudulent listing, click "Report an Issue" at the bottom-left of the listing (you must be logged into your account) and reach out to us at 877-895-1234 or via email at offcampus@costar.com.