Rental Scam: Here's What You Need To Know

Outlook Money

Rental Property

It is now easier to find a property that matches the needs. With the advent of the internet, one can find properties sitting at home.

Rental Property

Rental Scam Signs

1. No In-Person Visits Allowed- It is a sign of a rental income scam if the landlord does not allow visits to the property.

Rental Scam Signs

Genuine Landlord

If the landlord is genuine, he/she does not have any problems for letting people visit the property.

Genuine Landlord

2. Unusual Payment Methods

One of the most common methods of scams include asking for unusual payment methods. It includes when one is asked to pay with crypto gifts.

Unusual Payment Methods

Genuine Transactions

Landlords who are not frauds carry out the transactions through conventional banking methods. One should make sure to use safe transactions.

Genuine Transactions

3. Lack of Proof of Ownership or Agreement

In case the landlord does not give the the proof of ownership or agreement, then it is a sign of a scam.

Other Signs

Documents

Address proof or a lease agreement for property is important as it is ensures the rental deal is in original.

Documents

4. Pressuring for Quick Decisions

Suppose a landlord presses one to make quick decisions, like asking for huge deposits. This can be a trick of a rental scam.

Pressuring for Quick Decisions

5. Low Rent Compared to Local Listings

It is also a sign of a rental scam if the rent of the property is suspiciously low compared to other local listings.

Low Rent Compared to Local Listings

UPI Scams: Know How To Stay Safe While Making Payments

Read More