Rental scams are a growing problem that prey on the hopes and anxieties of people who have nothing to do but look for a new home. With the cost of living and real estate increasing every year, it can feel like a breath of fresh air when you find a good deal.

After spending weeks browsing listings and finally finding the perfect apartment or house at an unbelievable price, you may be excited, relieved and ready to move on. But before you put down your deposit, take a moment to consider the offer you received and whether it seems too good to be true. Otherwise, you could be falling straight into a scam.

Know the tricks of scammers

There are many different types of rental scams, but let's look at the most common ones you need to be wary of:

"Too good to be true" deals. Rents that are significantly lower than typical rents for similar properties are almost always scams. Scammers will often try to justify the low price by claiming they need to rent the property quickly due to a job change, relocation, or family situation. This tactic exploits both your desire for a bargain and your sympathy for the so-called landlord. Non-existent properties: These listings will have beautiful, professionally taken photos and amenities, and the prices seem too good to be true. But in fact, the property does not exist. Scammers often steal photos and descriptions from legitimate rental homes and real estate listings for homes for sale. Their goal is to make you fall in love with a place you can never move into. "Out-of-town" landlords: Saying that the landlord of a property is out of town is a perfect excuse to get the scammer to avoid showing you the property. Scammers try to isolate you, prevent you from viewing the property, and pressure you to send money without even seeing what you pay. High-pressure tactics: Scammers want to rush you into making a decision, so they don't give you time to think critically. They'll claim there are a lot of interested tenants or that the property is about to be rented by someone else. Phrases like "Act now!" or "This won't last long!" are designed to panic you and override your better judgment. Spot the Red Flags: Signs of a Potential Scam

Many times, people looking for a new place to rent try to find a property as quickly as possible, which can prevent them from seeing some obvious red flags, such as:

Limited information. Potential tenants can easily find legitimate landlords and property managers. Be wary if a listing only provides a generic email address and no phone number. Poor communication: While not every landlord is a grammar expert, emails or texts full of obvious spelling errors, strange punctuation, or inconsistent capitalization are a big red flag. Requests for payment before viewing. Do not, under any circumstances, wire money before viewing the property in person and meeting a verified landlord or property manager. All potential tenants have the right to view a property, but scammers always find excuses to prevent this. Sketchy payment methods. Do not use payment methods that are difficult to trace or that do not provide buyer protection. Wire transfers, gift cards, cryptocurrencies, and cash apps should not be used for rental deposits or down payments. Reputable landlords and companies will use established payment methods such as checks, credit card transactions, and secure online platforms. The serious consequences of rental scams

Rental scams can take an emotional toll on anyone, but the consequences of this scam are much more serious than just not having a place to live. It can have many consequences, such as:

Significant financial losses. Scammers will ask for money in the form of a security deposit, first and last month's rent, application fees, and even fake "holding fees." All in all, you'll suffer significant losses if you pay all of these fees. Identity theft: Most scammers will ask you for personal information, such as your Social Security number, bank details, and copies of identification documents. This puts you at risk for identity theft, and criminals can use your information to open fraudulent accounts, apply for loans, or commit other crimes in your name. Legal troubles. In desperate situations, people who fall victim to scams are sometimes forced to take drastic measures. Trying to sublet a property that doesn't belong to them or breaking into a unit they were tricked into thinking was theirs can result in serious legal consequences. Difficulty finding future housing. In some cases, legitimate landlords and property managers will conduct background checks and look for references before approving someone as a tenant. If your experience with scams has resulted in eviction proceedings or other negative reports, this could hurt your chances.