Listed below are some tips for protection against property scams. Never give up on a property simply because the landlord is unwilling to reveal its address or wants you to wire earnest money to another account. Never sign a contract without seeing it, and never send your down payment or money overseas without verifying the owner’s identity. Also, report scams to the authorities if you are the victim of one.
Avoid properties where the landlord won’t reveal the address.
When you’re unable to view the property, never deposit money without getting a tour of the premises. When the landlord doesn’t reveal his address, always ask for a copy of the property lease. If there are any problems with the property, bring them to the landlord and have them addressed.
A rental listing in https://www.jumprealty.ca/essex-properties should include a street address. If the landlord refuses to provide this information, you should copy it and check it out using a street view. It is probably a scam if the landlord won’t disclose the address. Don’t give out your personal information to strangers.
A legitimate landlord will provide a phone number and address and will be happy to show you photos or provide a link to county registers.
If you’ve been the victim of a property scam, you should report the incident to the local authorities. You should also retain any correspondences you’ve had with the scammer, including the lease. If the landlord doesn’t give you the lease, you should find another property to rent from. This way, you won’t be cheated or pay more than you originally agreed to.
Avoid properties where the landlord asks you to wire your down payment or earnest money to a different bank account.
Wire transfers are a common way to move money when considering a real estate transaction. Unfortunately, this method also creates an enormous opportunity for abuse. In the case of a wire transfer, fraudulent emails can pose as genuine accounts, change account numbers, and transfer money to a foreign bank account. The money sent this way cannot be retrieved, so it’s imperative to confirm the recipient’s account number before wire-transferring your money. This year alone, the government has arrested numerous individuals for hijacking wire transfers.
A better approach is to pay the full security deposit and half of the first month’s rent in advance and organize a payment plan. A landlord who demands all-cash upfront is likely a mom-and-pop landlord who doesn’t know the difference between a rent increase and a refund policy. Keep in mind that landlords want to avoid any uncertainty, so you should avoid properties where the landlord requests all of your down payment and earnest money wired to a different bank account.
Check out the landlord’s background, and make sure you can verify their income before putting in your down payment.
Check out the rental property online before agreeing to rent it. Check out the landlord’s background, and make sure you can verify their income before putting in your down payment. If the landlord asks for a security deposit before you sign the lease, try to determine whether they’re a scammer. Do your due diligence to avoid falling prey to scammers. Never wire your down payment or earnest money to a bank account that is not yours. Then, make sure the landlord has no other bank accounts or hasn’t posted their contact details.
File a complaint with the authorities
You can file a complaint with the proper authorities if you have experienced any of the above scams. Your state consumer protection agency may also help you with your complaint.
First and foremost, never pay upfront for a property that you haven’t viewed in person. Never make a payment to a landlord without meeting the potential tenant. If possible, run an image search of the property to avoid falling victim to an impostor. When meeting prospective renters, request personal references and verify the renter’s income. Make sure to keep records of any transactions.
Always use a reliable property agent to protect yourself from new scams and scammers. This way, you are assured of legit business practices and getting value for your hard-earned cash.
