10/14/21, 10:45 AM
Identifying Apartment Rental Scams | Peter Bubel | Reading Real Estate
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Identifying Apartment Rental Scams by Peter Bubel | Oct 13, 2021 | Blogs, Luxury Real Estate, Peter Bubel, Peter's Blog, Property Management, Real Estate, Uncategorized
Technology has pushed apartment rental a notch higher. The online process of apartment rental exposes landlords and tenants to higher risks. Many of them fall victims to rental scams since they do not know which red flags to watch out for or which tricks scammers have up their sleeves. Due diligence is the solution to steer away from apartment rental scammers or fraudsters. Let’s delve into the most common apartment rental scams and how to avoid and deal with them when one is a victim.
Apartment rental scams targeting renters and how they can protect themselves Since apartment rental scams can happen at any time, renters need to be keen on the warning signs. Most of these rental scams involve false representations of oneself or peterbubelpropertymanagement.com/identifying-apartment-rental-scams/
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10/14/21, 10:45 AM
Identifying Apartment Rental Scams | Peter Bubel | Reading Real Estate
property. The following are the most common warning signs and how renters can protect themselves:
Absentee landlord It is not a must for a landlord to live within or near his property. Individuals have properties in different areas and still ensure their tenants get the best services. When scouting for an apartment, it is critical to meet in person with the landlord or the legitimate representatives. They should have access to the property and be able to show it around when the landlord is absent.
Too good to be true It is usually advisable to think twice whenever the deal is too good to be true. Many people love to bargain and settle for the best price. When a luxury apartment is going for low rent, it should be a warning sign. Certain scenarios may call for low rent, such as when landlords flash low rates to attract potential renters. When listings are too good to be true, it is vital to research deeply.
Apartment rental scams targeting landlords and how they can protect themselves Just as renters face apartment rental scams, so do landlords. They also fall victim to certain fraudulent situations. The following are the most common apartment rental scams that landlords face and how they can tackle them:
False information during the application Landlords need to screen their potential renters properly to make a solid decision. During the vetting process, they must ensure they scrutinize the information provided to ensure they select correctly. As a result, it is essential to use things like utility bills when verifying information about the tenant.
Using the unit for a business Tenants should understand that residential properties have zoning restrictions. As a result, they should not use their residential premises as a registered business location. It is a legal issue, and it also raises concerns about security and noise.
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