6 ways to spot a rental scam
With no current end in sight for Australia’s housing crisis, renters are being warned to be more wary than ever of rental scams making the rounds.
Professionals Real Estate reported that rental scams are increasingly on the rise, with scammers utilising fake property adverts to lure in unsuspecting victims.
Within these schemes, renters are drawn in by listings of picturesque properties with weekly rental payments that are often lower than the expected value.
To obtain these photos, scammers will frequently use photos of properties from older listings by genuine real estate agents who are completely unaware that their advertisements are being reused for criminal purposes.
Interested renters are then told by the scammer that the property has generated a lot of interest and that to secure the property, they should pay a housing deposit on the spot without having a prior rental inspection.
The agency cautioned that victims who transfer such deposits are very rarely able to retrieve their money once a scammer disappears.
In dire cases, victims can even be asked to hand over personal documents such as photo ID, payslips and bank information which put renters at risk of even further loss or outright identity theft.
Scams such as these all prey upon the stress of missing out on a good opportunity, especially in today’s competitive rental property market.
Professionals advised that if a rental opportunity “seems too good to be true, it is”.
Professionals has issued six tips directed at renters to help them avoid rental scams:
- Be cautious of situations where a supposed landlord is asking for payment in an unusual way, such as with gift cards or money orders.
- Exercise wariness in situations where someone is demanding you act too quickly – in these situations scammers don’t want you to have the time to stop and think things through.
- Be cautious of any person who says they are unable to meet in person. No genuine real estate agent will pressure you to take a property without viewing it first.
- In situations where a property must be rented sight unseen, ensure that this process is facilitated through a reputable agent and that elements such as a live walkthrough via video call are available.
- Use established websites for finding listings, or look directly at a real estate agent’s website for rental property listings.
- Be wary of landlords or property managers who will not speak on the phone. Reputable agents and agencies will always make themselves contactable.