The property management industry is thriving in Denver, Colorado. The information below is intended to promote cautious and conscious rental property searches. On behalf of Walters and Company Property Management, we believe it is important to share with renters certain red flags to look for on their search.
Here are some Words From The Walters:
THE RENT DOES NOT MATCH MARKET VALUE
Consider this a scam artist’s bait. When the rent is too good to be true, it’s probably not true. Rental scam artists are notorious for advertising rental prices significantly lower than market value. The intention of a scam artist is to lure you in with unusually low prices and pressure you into making hasty decisions. Properties are coming on and off the Denver property management market daily. While searching online for properties, renters are typically quick to make deals to avoid letting the perfect space go. We recommend consulting with a local, private property management company for professional guidance during your rental search.
“LANDLORD” requests money before a background check
Money is the root of all scams. The top priority of a rental scam artist is to get the money and vanish. Scammers typically request money without requiring any background check. Local, private property management companies lease properties with the value of their investment in mind; we like to know who we are renting to. Expect to go through standard background, credit, and income checks before you considering writing any checks or transferring any money.
Property is “NOT AVAILABLE” for show
Now we perform the sensory test. Never buy it until you hear, see, smell, and touch it. If stopping by the address is not an option for you, we highly recommend having a local friend check it out. Refer to Google Maps and check out the street views as a last resort. Many scam artists will claim the property is not available to tour for whatever reason. The “landlord” you are currently emailing back and forth with is not likely to be “out of the country” or “on vacation.” If for some reason that does happen to be the case, a legitimate landlord would have some sort of professional liaison available for showings. Many scam artists post embellished, inaccurate ads, always double-check to ensure all the property specs are precise.