We noticed an uprising rental scams trend in last two years with rising digital technologies and tighten rental supplies. Nowadays, many scammers are taking more advantage of both perspective renters and landlords. As a result, determining who is genuine and who is a forgery is becoming increasingly important. One could lose thousands of dollars to a scammer.
The best property management company in Redondo Beach has the extensive tools in place to eliminate the risk of rental scams.
In this blog, we will discuss how property management helps landlords avoid tenant scams. Please keep reading to learn more.
Role of a property management company in eliminating rental scams with landlords
Most of the time, we hear about how a tenant came across a fraudulent rental ad while searching for a home. But scams go both ways, as landlords also get trapped in tenant scams. The most common tenant scams that landlords can face are:
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Unofficial Credit Reports and False Income Verification
Before renting the house to any tenant, it is important to check the prospective tenant’s credit report, which gives you valuable insight into their financial health.
Tenants may provide landlords with a fake report that is digital edited. A quality property management company has direct link with credit bureaus and income verification agencies to get authenticated perspective tenant history.
Always remember that if a bad tenant has signed the lease and gets the keys, evicting them from the rental properties requires a costly legal eviction along with rent loss and property damages.
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Not Disclosing Occupants
When a landlord hands over the lease agreement to the tenant, it should always list the tenants and any additional occupants.
The best property management company in Redondo Beach assists landlords in drafting a comprehensive lease agreement to list all the details in the lease agreement helps maintain an official record of tenants and their occupants, double check periodically that these individuals and only these individuals are living in the rented house.
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Selling Goods or Operating a Business
According to the law, residential apartment buildings and individual homes cannot be zoned for business use. In the lease agreement, it has always been agreed that tenants may not use the property for business purposes. So it is the primary responsibility of property managers to ensure that no tenant should abide by this law unless they have written approval from the owner.
Conclusion
As we know, choosing to rent out an investment property comes with an inherent amount of risk. However, due diligence, along with the proper support and processes in place, can significantly mitigate these risks.
Real Property Management Choice, the best property management company in Redondo Beach, helps eliminate any fraud risk with the landlord by using extensive and constantly updated screening tools.
Visit our website to learn how we can provide excellent benefits and save you from various scams.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
