05/24/2023
Finding a new place to live is stressful, and you may be motivated to choose a place quickly to get situated as soon as possible.
5 red flags of rental scams
1- The first red flag to watch for is the price. If this is a nice property, way below the market rate, it could be a scam. Of course, it could be a great deal too, but make sure you should investigate it thoroughly.
2- The “owners” of the property say they are out of the country, or out of town. Remember: it’s highly unlikely a landlord would list a rental and then leave town.
3- If the listing’s photos are vague, and only show the outside of the property, it could be a scam. A good landlord will post quality images of the inside and outside. And if you see a “for sale” sign in the photo, you should probably avoid it.
4- Any requests for security deposits or first-month instalments, without a formal rental agreement, should be met with deep skepticism, especially if it’s through a wire transfer like MoneyGram or Western Union going outside the country. Gift cards are another major red flag.
5- If the alleged owner wants to communicate with you outside the rental platform or direct you to a website asking for personal or financial information, then you should turn and run away (virtually).
https://www.springfinancial.ca/blog/cybersecurity/signs-of-a-rental-scam
