If you are a landlord, watch out for these real estate rental scams!

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Rentals are an important source of income, so there is a tendency to take advantage of this to defraud future owners and tenants. That is why at Housfy, as an online real estate agency , we want to inform Latvia Phone Number List you about the most common real estate scams and give you a series of tips to try to avoid them so that you can rent your apartment safely.

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Most common real estate scams
Below we explain the most common real estate frauds when renting an apartment .

The identity scam
This scam is one of the most common in Spain. Scammers pose as real estate owners or real estate agencies and post fake apartment ads online . In this way, they ask for personal information and deposits in advance , but they never give access to the property.

To avoid this scam, be sure to verify the authenticity of the advertiser and above all do not share personal and sensitive information until you have confirmed the existence and ownership of the property.

Real estate phishing
This scam is very similar to the previous one, but here the scammers pose as real estate agents in order to obtain your personal and financial information through calls or emails . Therefore, you should always check the identity of those involved and avoid giving sensitive information through these means.

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Advance payment and non-existent property
In this real estate scam, ads are published for homes that do not exist, they require a deposit to reserve them before closing the sale or rental transaction, and then the false owners disappear.

Use an escrow account to protect your capital until the transaction is complete.

Payment diversion
Many times, scammers try to divert payments made in the real estate transaction into their own accounts. For this reason, it is key to always verify the details of the “owner’s” bank account.



Fraudulent investments
There are fraudulent investment projects , where scammers offer the opportunity to invest in what turn out to be fake projects. It is best to check the reputation of these fake promoters. Likewise, the recommendation is the same if you are presented with international intermediaries who offer to process your rental, check their background.

Recommended Reading:   Guide to Perfect Rental Protection Insurance
Foreign property scam
Sometimes we have interest in a property abroad, and here caution must be almost extreme, since being in another country, remedying it can be more complicated. Therefore, it is essential to thoroughly investigate the seller and the property in question.