Real Estate Investor Magazine South Africa August 2015 | Page 76

Just Letting

Rental
Scams
Tell tale signs for Renters and Owners

H

ere are some tell tale signs of common rental
scams to help you spot and avoid them in the
future.
For Renters

The landlord insists that no lease is necessary.
If a landlord attempts to take your money without first
discussing the lease, you may want to think twice. The
landlord may simply not have a lease to show you.

Money Upfront with no prior Meeting/Agreement
If a landlord expects you pay an unusually high security
deposit before you lease your apartment, or claims to
be out of the country or simply unavailable to meet,
then it’s usually reason enough to be wary. Always insist
on visiting the apartment first and meeting the landlord
before putting down any fixed deposit.

For Owners

Always insist on visiting the
apartment first and meeting the
landlord before putting down
any fixed deposit.
The landlord is overeager to close the deal
More often than not the landlord will request either a
credit score, employment verification or a similar piece
of background information on you to ensure that their
property will be in good hands. A landlord with little
interest in your ability to maintain a lease agreement
may only be interested in a short-term monetary gain.
6

Issue 8 2015

Uninformed Renters
If, when responding to the ad, the enquirer asks a number
of questions already covered in detail in the ad or flyer,
then it is usually a sign that they are less interested in the
property then they let on. A careful renter may wish to
go over the details though so trust your instinct.
The renter has little interest in viewing the
property
If the renter claims he is willing to take the property
without first visiting the premises, then it could be a
prelude to an advanced fee scam. Serious prospective
renters will always want to ensure that the property
meets with their expectations based on location and
rent.
An immediate request for a private contractor
If the renter puts in a request for a private contractor to
be hired for unnecessary renovations, especially before
the lease is agreed upon and signed. Oftentimes the
contractor is the scammer, and the two parties work
in tandem.

Just Property Magazine