Property owners often rent out their properties as part of a broader investment strategy, or simply because they want extra cash flow. Renting out your home or flat means you get paid regardless of whether or not your tenant stays in the property for the agreed period. The main downside is that you won’t receive any equity from the sale of your property, so you’ll need to factor that cost into your rental price. Here are the 5 ways to avoid Rental Scams.
Research online reviews before renting anything
Before signing any type of contract with a property manager, research their reputation online. Many websites allow renters and landlords to rate each other based on customer feedback. This will help you determine if they have bad or negative feedback before contacting them about your housing needs.
Renting in person is always best
If possible, do not go straight to a landlord in the first meeting. Instead, work with a reputable real estate agent who specializes in rentals. If you have to contact the owner directly, make sure you know what company name is behind the address. Also, ask for a business card or something else that includes the business phone number to call back.
Never pay in cash
Always use a bank to conduct payments. Do not provide your bank information until you have received some sort of written guarantee.
Ask questions and get references
When searching for a place to live, try asking friends, family members, neighbours, and anyone else you might know. You may even find out about an apartment that was previously posted online and was taken down without notice.
Don’t rent if the place looks sketchy
Rental scams often happen in places where people don’t want to take the time to clean, fix, or repair things properly. If you see problems with water damage, mould, or fire damage, the rental will be a scam. Avoid these locations at all costs!
We hope these points will be helpful in the forthcoming days while renting your house. For detailed information or any queries, remember us at 1800 MY SAPPHIRE! We are always at your service.
