3 tell-tale signs of a Rental Scam

Free advertising of rentals online has opened the door for FRAUD. You do not have to be qualified or even so much as identify yourself to post ads on these sites and Rental Scams are on the rise. Even in New Braunfels.  A front page article in yesterday’s Herald-Zeitung told the story of one New Braunfels resident who was delighted to discover a property for rent online.  In exchange for a Residential Lease, she sent a Deposit.  Then, the property-manager-imposter disappeared.  New Braunfels Police Department is investigating but say “people need to be more careful in similar situations.”

Keep these 3 Tell-Tale Signs of a Rental Scam in mind while you’re looking around. . . 

1. UNBELIEVABLY LOW RENT. Hello? a 3/2 in Quail Valley with all bills paid for $800/month is straight fiction.  Know the average rental rates of the areas that you’re looking in, anything below 5% of that price range is questionable.  Yes, you can find unusual deals from time-to-time and yes there are situations where rent is less because of the owner’s circumstances.  In those cases, why would they waste time posting it online?  With people rapidly relocating to New Braunfels, the process of establishing online ads just isn’t efficient.  Those deals probably wont see the light of your iPad. Good rule of thumb: If it seems too good to be true, it’s too good to be true.

2. THE EMAIL STARTS OUT WITH SIR/MADAM. Who talks like that? This is the era of the acronym! IDK about you but no real person has ever addressed me with anything so lengthy as “Dear Sir/Madam.” If you receive correspondence from a Nigerian Reverend, IF THE EMAILS ARE IN ALL CAPS, or if there is any reference to Missionary work overseas, or sending a Cashier’s Check, you should really flag raqraqep@hotmail.com and Report that scam listing. Tip: If a phone number is provided, call it. It’s convenient to do things via email and it’s smart to do business in writing, but at least verify that the phone number provided is an actual phone number.  This is particularly important if the advertiser has a free email addres (hotmail, gmail, yahoo) and not a paid corporate email address.

3. UNDISCLOSED ADDRESS. You saw pictures and an extensive description and you can imagine it in it your head, but the property-manager-imposter says that he can’t tell you the precise location until he runs your credit and/or receives your wire transfer. Sorry, no deal.  Don’t enter a Residential Lease sight unseen OR you may never see the Residence.  Out of town? Call a friend.  If you don’t know anyone here yet, call a Real Estate Agent to go take a look. Typically, REALTORS® help Renters at no cost to them.

Bottom Line: Protect yourself by working with a REALTOR® and request that they search the Multiple Listing Services (MLS) for you. Not everything off-MLS is a scam, but everything on it is pretty much positively not a scam. It’s rigorously regulated.

Vista Realty actually offers real-time access to the MLS through our website — Take a look!

For a customized search prepared by a Vista Rental Specialist, contact us: