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Financial Fitness: Avoiding rental scams

Posted at 5:55 PM, Aug 23, 2023
and last updated 2023-08-23 19:55:52-04

BOISE, Idaho — If you’ve moved a few times in your life, you might know how tough it is to find an affordable place to rent. And when you factor in the threat of scammers, it can make moving a nightmare.

Dale Dixon with the Better Business Bureau says you can avoid these scams when rental house or apartment hunting by being aware of the credit checks being done during the application process.

"When you run a credit report on somebody, you're asking for all the personal information. You're looking for a social security number, you're looking for a date of birth, addresses, all that kind of stuff,” Dixon said. “[However], what people are being led into is really a crime, to harvest your personal information in order to steal your identity."

Dixon also says there should be no ambiguity when looking at a listing and knowing who is behind that listing. One red flag is unclear information because scammers are often using advanced tools, like legitimate-looking websites.

Also, be aware if the supposed property manager moves a little too fast because if the first thing someone wants to do is run a credit check on you, that’s another red flag."

Like anything else, if it seems to be too good to be true, that's probably the case. Odds are you're not going to rent a legitimate $2,000 apartment for $800 a month.

"Don't get sucked in by that low price. That's how they're getting people,” Dixon adds. “A really low price should raise a number of red flags for you, so be extra careful there."

So what's the right way to go about it? It might seem self-explanatory, but do your research when finding the best rental companies.

"They're going to have information out online about their history, about how trustworthy they are,” Dixon said. “And so it's really important to do the research and know that you are dealing with a reputable property management company."

Lastly, do whatever you can to make sure you see the property in person. And no matter what, don't panic or give in to pressure. Identity thieves rely on desperation, and keeping a calm head will make sure you don't become one of their victims.

One way to look up the best property owners and other businesses is through the Better Business Bureau. Just head to bbb.org and find the business to see reviews and potential warnings.