RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

5 Signs of a Rental Scam

May 11, 2015 12:36 am

With a variety of websites to choose from and skyrocketing online search rates, it’s easy to miss the signs of a rental scam. If a deal seems too good to be true, take a moment to assess the situation before taking action. Here’s what to look for, according to the experts at RentalRoost.com

Can you see the property before making an agreement?
Insist on a face-to-face meeting with the landlord and a tour of the property. If the person on the other end says they’re “out of town” or otherwise unable to accommodate your request, it’s likely a scam.

Does rent compare to fair market rents in the area?
A major red flag to watch for is a rental priced out of the range of comparables in the neighborhood. A scammer will likely post unreasonably high rents to gain the most money – don’t fall for it.

Does the leasing agent have favorable reviews?

When searching for rentals, use reputable websites only. If you’ve found a rental that seems promising, conduct your own background check with a quick Google search. Look for complaints and anything that seems suspicious.

Is the landlord using a middleman?

Be mindful of any opportunities the landlord takes to delegate tasks. If he or she offers to pass along the keys through someone else, for example, you’re likely being duped.

Is the landlord requesting money up front?
Most scammers rely on wire transfers to secure your funds. No matter how appealing the deal seems, never wire money or otherwise pay without assessing the above factors.

Source: RISMedia’s Housecall

Published with permission from RISMedia.


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Report: Mortgages Drive Overall Debt

May 8, 2015 12:30 am

A sign of an improving economy, overall debt levels declined in metro areas across the country – and the decline was driven by lower first and second mortgage debts, according to Equifax’s recent National Consumer Credit Trends Report. Overall debt totaled $9.9 trillion, down from $10.1 trillion.

"The latest numbers show that while the mortgage market continues to heal, the overall appetite for debt is growing across the board as consumers continue to open their wallets," says Assad Lazarus of Equifax.

Overall debt tumbled from $10.1 trillion to $9.9 trillion, the Report found. Of the nation's largest 25 markets, just six experienced increases. Many of those markets continue to work through a huge backlog of foreclosures that came during the Great Recession, says Lazarus.

Source: Equifax

Published with permission from RISMedia.


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