With advances in technology, it's becoming more common for people to fall victim to rental scams. In order to avoid losing out on time and money, we’ve compiled a list of 5 red flags to be aware of while you shop for your new rental home.
Be careful if you stumble on a property that is renting below the average for your area. This is a common occurance with online scams. In some cases, maybe the property is run down or it’s being listed in a slow season. However, if the photos are immaculate and it seems like a steal; it is probably a scam. In addition, they may try to rush you into making a payment to secure the property.
“This one has a lot of interest, if you want it, you need to wire the money now!”
You looked at the pictures and you’d like to schedule a showing. The landlord is currently out of state, but he/she assures you that “it looks just like the photos.” If this happens, ask them when they’ll be returning and try scheduling a day and time. If they don’t give you a clear answer or try to convince you that a showing isn’t necessary, then you’re likely dealing with a scammer.
Note: At Bullseye, we require you to see a unit in person before you can apply.
If the landlord ONLY accepts cash, then there is a probability that you are dealing with a scam artist. This is a sign that they don’t want any evidence of the transaction or that they don’t have a bank account.
Note: At Bullseye, we accept cash, check, and credit card payments.
Be wary of those asking you to wire a security deposit or rent. This is another common occurrence in scams. A scam artist may pose as missionaries, or landlords that live out of state, and they’ll try anything to get you to wire money to them. They will disappear once the money is transferred, and you will not get your money back.
Note: Bullseye will not ask you to wire funds. We accept cash, check, and credit card payments.
No Lease? No Deal. Besides a small application fee, a landlord should not be requesting any payments prior to you signing a lease. If there is no lease available or something seems off about it, it’s better to be safe than sorry.
Note: Bullseye asks for an application fee, and after your application has been approved, you are sent a lease to look over and sign. Once signed, a security deposit is due through cash, check, credit card.
Avoid cash and wire transfers, always view a property in person, and always look over the lease. When possible, choose to rent from reputable management companies. If not, trust your gut and remember these tips!