Rental options are becoming more and more expensive, according to real estate website Zillow, and only 10 percent of the largest rental markets are now more affordable than they were before the housing market collapse.
More than a third of American households are renting, according to studies, and rental affordability continues to decline.
Officials with the Hillsborough County Consumer Protection Agency warn that renters need to be more cautious than ever when looking for rental homes in online classified advertisements. Often, they said, people responding to an online ad for rental properties are instructed to wire funds for a deposit in order to receive the keys.
When potential renters request to see the property first, the landlords claim they are out of the country and cannot show the home. Those landlords, officials said, use pictures posted online of homes for sale — not rent — to create a fake listing. Homeowners selling their homes have been shocked to have victims knock on their doors, intending to move into their new rental home.
The Better Business Bureau also suggests renters be on the lookout for these red flags:
- Deals that sound too good to be true. Scammers often try to lure in victims by listing a rental for a very low price. Check the area for comparable listings, and if the price for the rental property looks suspiciously low, or anything else seems suspicious, walk away.
- Out-of-the-country landlords. If a landlord is located out of the area and only wants to communicate by email claiming they’ve relocated for a job or missionary work, don’t believe it.
- Request for a large deposit or upfront money, with no inspection of the property. Never pay any money before a home is thoroughly inspected inside and out.
- Requests to wire money or send via MoneyGram or GreenDot. Never send money to anyone via wire transfer service, because it’s extremely difficult to retrieve — if not impossible — after the scammers have picked up the funds.
- Request for personal information for a credit application. Never provide personal information to people online. It can be used to commit identity fraud and steal more money from victims. It is advisable to provide sensitive information only in person.
If anyone suspects a scam or that they were victimized in a scam, they can contact the Hillsborough County Consumer Protection Agency at (813) 903-3430.
