Beware Of Scams For Both Landlords And Tenants
Scams can happen in every part of our lives including in the property market. Crooks would do anything to steal and cheat from your hard earned savings, they usually aim for home sellers who wish to sell off their property as soon as possible, or even tenants who are looking for a roof to stay under urgently. So how can you identify crooks and scammers?
Anything That Is Suspiciously Too Good
Follow what your gut tells you. If you have come across a unit or a room with their prices way below the market price, take caution as it could just be a scam.
In common cases, when you filled up your details on their site, the advertiser would most probably tell you that the unit you are eyeing for has been sold out, instead they might offer you a “better” unit with a much higher price.
Every landlords know that they need to give a sufficient amount of good and high quality photos to help them rent out their units faster because mostly all potential tenants look at photos to make a decision whether they want to visit the unit or not.
In this case, if you come across an advertisement with one or two blurry pictures of the unit, you need to be alert. You do not want to trust anything that is not credible.
Thorough Check On Landlord/Tenant Background
It is super super important to run a thorough check on the landlord or tenant. We know that everything can be done through the Internet these days, but when it comes to property, it is entirely a different case.
You do not want to just throw away your hard earned money to someone you meet online. Ask them out for a meet up session and get to know each other more. Ask what is their motive of selling/renting/moving in before you make your payment.
If you feel that you are being rushed during your visitation or the landlord only allows you to visit at a certain time of the day, major alert. It might mean that either the area could be dangerous at night, or during peak hours the noises from vehicles could be loud during peak hours. If you feel like the landlord only briefly explained the unit and seemed like he or she is in a hurry, there could be some history about the unit that they did not want you to find out, or they did not want you to look closely at the condition of the unit. Imagine after moving in only you realise all these problems, not very pleasant.
Tenants Who Seek Fully Furnished Homes
Take extra caution on tenants who seek fully furnished homes. Know their reasons and try to understand why they want this. There are cases reported where when fully furnished homes are rented out, some landlords found out that all of their furniture has been taken away from them.
Some scammers might seem to be in a rush and will insist on moving in right after paying their deposit, which some landlords might allow them without realising they might be conned.
Have A Complete Black And White
An agreement is to protect both the landlord and tenant. A complete set of rules and regulations to follow and abide. Read carefully before any agreement has been signed. if the tenant conducts any illegal activities in your unit, the agreement can be your lifesaver. On the other hand, if your landlord wants you to sign an incomplete agreement, please do not sign them. Do not be deceived by their sweet words making you believe that a certain request will be added in after you have signed it. Everybody knows those are pure lies. Check with a legit experienced real estate agent or a lawyer before signing.
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SHR Properties is a real estate company which offers comprehensive services including real estate property investments, development, sales, marketing, operations, and management. The company creates quality urban projects based on customer-oriented mode of management for a better living and working environment. They also provide professional expertise and resources, along with asset management risk analysis and other services.