12 Signs of a Rental Scam You Should Be Aware of

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10. The Asking Rent and/or Security Deposit Doesn’t Match Up

Renter, Scam, Lease

If the asking rent for the property you’re interested in is unusually low, it could be an indication of a fake listing. To find out if it is indeed fake, look at the other apartments/homes in the area.

If the one you wish to rent costs a few hundred dollars less than the others in the neighborhood, it’s more than likely you’ve come across a scammer trying to bilk you out of your hard-earned money.

According to an article published by Allstate, this type of rental scam is usually aimed at people who are moving into the area from out of town or people who are willing to put money down without ever seeing the property.

Then there’s the security deposit. If what they’re asking for is way too low, beware. This type of rental scam preys on the budget-conscious, hoping to bait them in with a low-security deposit so they can pay before someone else can get the apartment.

On the other hand, if the security deposit is way too high, the scammer is likely trying to get as much money from you as he or she can before suddenly “disappearing.”

9. They Ask You To Wire Money

Wire money

Wiring your security deposit and first month’s rent to a fake realtor is the same as dropping a wad of cash on the ground in a public place — you’ll never be able to get that money back.

And, even if it’s an actual realtor, you’re still putting yourself at risk by wiring money to them. All a hacker has to do is get into an email at the escrow or title company to send the renter an email explaining where to send the funds. Then the hacker makes off with the money.