Outlook Money
In India, renters frequently encounter scam offers, ranging from fake listings to excessive deposits. Avoiding these typical pitfalls can help prevent most associated red flags. Renters struggle to distinguish genuine listings during their hectic search for rental housing.
A common scam is fake online listings of attractive properties at low prices to attract renters. These usually appear on social media and classified websites with quality photos and tempting descriptions. To avoid this, always see the property in person and meet the landlord.
In most Indian states, security deposits are limited to two to three months' rent. Nonetheless, in some highly competitive areas, landlords request excessively high advance deposits. Being aware of local rules about security deposits can help you avoid overpaying.
Sometimes hidden fees are included by landlords or brokers, these can be very high maintenance fees, "furniture rentals," and additional "broker fees" that are not revealed before a rental agreement is signed. One should review the final terms of any rental agreement to make sure to understand what is included in the rent.
Landlords typically offer multiple payment options such as bank transfer or cheque. However, a dishonest tenant might insist on cash payments to avoid a paper trail. To ensure traceability, request a formal receipt and prefer digital payments.
Scammers sometimes pose as landlords or agents without actually owning the property. To stay safe, one must verify their identity and ownership by asking for the landlord's ID and proof of ownership, such as a recent property tax bill or a utility bill with their name.