How to Avoid Rental Scams

The digital world has made it easier than ever before to find a place to live. Unfortunately, it’s also made things easier for scammers. We’ve covered moving scams before, but fake moving companies aren’t the only ones trying to steal your money (or worse, your identity). Rental scams are also on the rise, and protecting yourself starts with being able to identify the signs that something isn’t right.

During a five month period, researchers from New York University, the University of Maryland, and Cornell University analyzed more than two million Craigslist rental listings across 20 major cities. They found that of these listings, 29,000 were fraudulent. And often, the scam listings were up for as long as 20 hours without getting flagged for removal, with Craigslist failing to identify more than half of them.

Rental scams involve the advertising of properties that don’t exist or aren’t available. For those who fall victim to them, the truth usually isn’t figured out until money has been exchanged. So how do you avoid rental scams? You stay smart. Here are 9 red flags to look out for.

They won’t meet you in person

They won’t let you see the property

It’s priced too good to be true

The listing has poor grammar or syntax>

The landlord seems overeager

They won’t show you a lease, or the lease seems sketchy

They ask for your financial information

They ask you to wire money

They want all payments in cash

What if you get scammed?

There are a lot of rental scams out there, mainly because, unfortunately, they often work. If you fall victim to one, contact your local authorities immediately and file a complaint with the Federal Trade Commission. You should also contact the manager of the site that you found the ad on. Regrettably, you may not be able to get your money back or even locate the person who scammed you, but the more you can spread the word about what’s going on, the more you can do to prevent someone else from falling victim to the same tactics.

There are a lot of things you should be looking for in a rental. While in a perfect world that wouldn’t include potential criminal activity, there are people out there trying to make money from unsuspecting renters, and it’s critical to stay skeptical and stay aware. Be your own advocate, and never move forward with a rental that seems shady – it’s not worth your peace of mind or your money.