Testing Rental Scams Via Rental RatesDecember 19, 2009 at 6:24 pm | Posted in Tips to Avoid Scams | 1 Comment
One of the strategies of rental scammers is to price the ‘fake’ rental below the average rental rate in a specific market. This allows the scammers to receive as many emails or inquiries as possible.
One way to see if a rental is too good to be true is to look at average rental rates for like properties within that area. rentBits has a rental rates tool that currently offers rental rates for over 4,000 cities in the US.
For example, if you see an ad on Craigslist for a two bedroom home for rent in Phoenix for $400 / mo. You can go to rentBits.com and see that the average rental rates in phoenix are $786. For a 2 bedroom home in Phoenix, the current rental rate is $787 / Mo.