How to Check if a Rental Property is Legit

Rental properties are real estate assets designed to generate an income for their owners by renting it out to tenants. Such assets include apartments, houses, condominiums, vacation properties, office spaces and retail suites.

Make sure to view a rental personally or virtually before sending payment or providing personal details, and beware any high-pressure sales tactics or deals being forced upon you.

Check the Owner’s Identity

Rental verification processes are an essential tool in combatting fraud. They enable companies to verify applicants’ identities, rental histories, and other pertinent data that influences rental decision making – but bad actors have managed to manipulate this system by falsifying documentation.

Scammers use social media and online sources like real estate listings or photographs from public sources to appear more credible, and may use false leads from unsuspecting renters to lure them in.

When looking at listings online, be wary if there is no match between contact details and those provided, and those you meet in person. Furthermore, any attempt at payment by wire transfer or using payment apps that don’t offer fraud protection such as credit cards should also raise red flags; only hand over money after having met in person, seen the property, and signed a lease agreement.

Check the Property’s Address

Step one in protecting yourself against renting illegal rental properties is checking its address. Your city or county’s tax assessment website can give you details on who owns and rents out each property listed as “for rent.” If it belongs to a management company, they should have business cards detailing this information as well.

If you haven’t seen the property firsthand, request a video or virtual tour before sending any money. When making payment by wire transfer or gift card, keep an eye out for criminals taking it without leaving a trail behind them; pay with cash or credit card instead and then visit in person to inspect what you expected before making your final decision. Doing this also gives you an opportunity to identify preexisting damage and keep from losing your security deposit and may save headaches down the line.

Check the Lease Agreement

Before sending any payments towards renting property, always ensure you obtain a copy of the lease agreement. This document outlines both parties’ responsibilities – for instance how long will be your lease term, how much rent will cost each month, and which repairs fall under each’s responsibility.

Your landlord or agent should provide you with a lease that is complete and up-to-date in order to prevent disputes or misunderstandings in the future. This will help keep disputes under control and enable smooth running of operations.

Landlords and agents should never pressure you into sending money quickly or moving in quickly, as this could be a telltale sign that they’re hiding something from you. Whenever possible, visiting the property with either yourself or having someone trusted show it around first can protect against common rental scams such as “rent-by-owner”.

Check the Rent

As part of their rental application, applicants often provide details regarding their previous housing experiences. If possible, contact previous landlords of applicants to verify their rental history and gather more insight into their habits – for instance whether or not rent payments are made on time and how maintenance issues are dealt with.

if it is impossible to verify an applicant’s rental history, consider requiring a co-signer or lease guarantor who will assume responsibility of paying rent should their tenant fail to do so. It’s also wise to perform an inspection when viewing or inspecting properties to detect preexisting damage such as doors and windows as well as floors, walls and ceilings that might pose potential safety hazards or higher energy bills due to poor insulation or drafts – this will enable you to decide whether renting the property would be worthwhile or not.