TIPS TO HELP YOU PROTECT YOURSELF FROM RENTAL SCAMS IN NIGERIA

 

Tips to help protect yourself from rental scams
The convenience of online rental listing puts options at your fingertips, but there’s some important things to watch out for.
Anywhere there are listings and reviews online, there’s usually scams. Unfortunately, some people are quick to take advantage of services that connect people to things they need. It’s important to stay safe online.
Rental listings are a popular target for scammers. Prospective tenants are used to having personal details at the ready for applications, expect to be asked some questions, and ultimately, expect to hand over some money.
Scammers shouldn’t scare you off the Internet (there are plenty offline too). You just need to know how to guard against them and what to look out for.
 

Warning signs
1. If it sounds too good to be true, it almost definitely is. When you see some properties advertised at a price that is well below the market price and also below distressed rental prices, it should strike you that the property is questionable and too good to be true. You should always stay clear from any property advertised at a very outrageously cheap prices or be on your guards and proceed with utmost due diligence and process. Also take note of Agents that advertise outrageously cheap properties and stay clear from them.

MARKET RENTAL PRICE IS 20 MILLION NAIRA PER ANNUM AND YOUR AGENT IS GIVING YOU AT 2MILLION NAIRA PER ANNUM!

 2. The landlord is overseas. Immediately a red flag, this is the oldest trick in the book. Though it may on occasion be true, it should be treated as suspect for safety’s sake.
It is advisable to always ask your agent or property consultant who the property owner is and also make enquiries and search to be sure. In cases where the property is being managed by a property company, always insist on having a copy of the letter of mandate or authority signed by the Landlord and stating that the property has been handed over to the property company to manage and act on his behalf. 

 3. You’re asked to hand over money before anything else happens. If you’re asked for a viewing fee, a holding fee to secure a property, or any other kind of upfront fee (usually in the form of an electronic transfer), stop immediately. This isn’t standard practice and is deeply suspicious.

4. You’re being offered lots of excuses about why you can’t view the property, meet the owner, or go through usual channels. Just like that landlord who is overseas, something doesn’t add up. Always insist on having a meeting with the Landlord or the property management company to be on a safe side and also ensure that the meeting takes place in their registered office not open places like restaurants or malls. In as much as landlords and property management companies always insist on having your profile and knowing you to protect their investment, you should also insist on knowing who your landlord is too to protect yourself against fraudsters!

5. Dramatic or theatrical stories designed to appeal to charity or compassion, i.e. the owner has unexpectedly lost a family member and is desperate to rent their property. Please do not listen to such dramatic tales from agents, it could be a trap to get you off your guards. Always make sure you follow through with the process.

6. There’s something off about the photos in the listing. They may be low quality images (blurry, pix-ellated, or only one distant shot). They may be stock imagery or stolen from other websites. If you think you’ve seen a picture before, trust your instincts and run an image search on Google (you can always search pictures of properties on Google). Sometimes pictures show outdoor environments that don’t match up with the cities they’re advertised in (palm trees where there should be skyscrapers). Look very closely and make sure you ask questions. For properties that are listed without pictures, make sure you ask for the full details of the property before you proceed.

7. Text within images. If an image has text superimposed, or is nothing but text itself (such as email address), raise that red flag again. This is highly unusual and very suspicious because it might be a case of stolen pictures.

8. The words in the ad may be clumsily composed and sound unprofessional. While agents can occasionally be accused of exaggerating, they know how to describe a property well, and have a certain style of writing. A fake listing looks and feels different and you would always notice that there is something off. Always look out for poor grammar and spacing.

9. Look for repetition elsewhere. Cut and paste the content of the listing (including the address and any contact details) into a search engine. If it’s a popular scam, you’ll likely find it elsewhere. It may be mentioned on blogs or amateur scam watch sites (you should always check with official scam sites as well).

10. Company Name & Address: It is always safer to do business with agents that have registered company names and addresses for verification purpose. Before making payment for any property ensure that you visit the company unexpectedly and ask questions for company you do not know and also Google is your friend, you can search the company out on Google to get more information about them.

11. When the agent pressurizes you to immediately make payment for the property:

 

 

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