Protect Yourself from Rental Scams: Tips and Tricks

Navigating the rental market can be tricky, especially with the rise of rental scams targeting unsuspecting tenants. From fake listings to fraudulent landlords, these scams pose a significant threat to renters' financial security and peace of mind. In this blog post, we'll delve into the warning signs of rental scams and provide actionable steps to verify the legitimacy of listings and landlords.

Warning Signs of Rental Scams

1. Unbelievably Low Rents

   Beware of rental listings offering rents well below market value, as they may be bait to lure unsuspecting tenants into fraudulent schemes.

2. Requests for Upfront Payments

   Exercise caution when landlords demand upfront payments or deposits before allowing you to view the property or sign a lease. Scammers often use this tactic to extract money from tenants without providing any legitimate rental services.

3. Pressure to Act Quickly

   Be wary of landlords who create a sense of urgency by pressuring you to make immediate decisions without allowing sufficient time for due diligence. Legitimate landlords understand the importance of thorough research and respect tenants' need to consider their options carefully.

4. Incomplete or Inconsistent Information

   Pay attention to rental listings that lack essential details or contain inconsistencies in property descriptions, photos, or rental terms. Legitimate landlords provide accurate and comprehensive information to help tenants make informed decisions.

5. Lack of Verification

   Verify the legitimacy of landlords by conducting background checks, reviewing references, and confirming ownership of the property. Scammers often avoid scrutiny by refusing to provide verifiable information or documentation.

Steps to Verify the Legitimacy of Listings and Landlords

1. Research the Landlord

   Use online resources, like Openroom, to research the landlord's name, contact information, and reputation. Look for reviews, complaints, or any warning signs that may indicate fraudulent activity.

2. Visit the Property

   Schedule an in-person visit to the property to inspect its condition and confirm its existence. Avoid renting a property sight unseen, as this increases the risk of falling victim to rental scams. If you’re out of the country and unable to view the property, have a trusted person or a real estate agent visit the property for you.

3. Ask for Documentation

   Ask the landlord to provide official documentation, like an Ontario lease agreement and a rental application. Review the documents carefully and seek advice from a real estate agent if you come across any discrepancies or inconsistencies.

4. Use Trusted Platforms

   Stick to reputable rental websites and platforms when searching for listings. Look for verified listings on MLS and avoid using platforms, like Facebook Marketplace and Kijiji that do verify whether ads are authentic.

5. Trust Your Instincts

   If something feels off or too good to be true, trust your instincts. Don't hesitate to ask questions or walk away from a potential rental if you have doubts about its legitimacy.

Whether you’re a first-time renter, seasoned tenant, or newcomer, stay informed and vigilant to protect yourself from falling victim to rental scams. Remember to always put your safety and security first when searching for your next rental property, and don't hesitate to seek help from trusted sources if you encounter any suspicious activity or fraudulent listings. For help from a licensed real estate agent, fill out our Rental Discovery Form, and we’ll work hard to help you find your next rental.