There’s no question the Toronto Real Estate market is on fire right now but what’s even hotter is the Toronto Rental Market. There are a ton of people scrambling to find their next dream rental and very few quality properties to choose from. Markets like this unfortunately bring out the scammers so here are some tips to avoid being scammed.
1. Pay a deposit before you view
The savage scammers are lifting photos of legit properties that are for sale and are listing them for Lease on popular sites like Craigslist and Kijiji. They’ll ask you for a deposit of up to $1000 prior to viewing the property to essentially “hold” it for you. They will make up some excuse why they can’t meet up with you and ask that you e-transfer it to them. Sounds pretty obvious but in a hot rental market, with potential homelessness looming over your head, some people tend to put their blinders on.
2. Low Price
Well, unless your rich uncle is doing you a solid by renting you his 5000sqft house for $500/mth it’s probably too good to be true and you’re about to get scammed. If someone is offering a place that’s seems really nice but it’s super cheap, there’s either a highway that goes directly through the living room or the property doesn’t exist. This is the same guy that will ask you to send money prior to viewing. Here’s a screenshot of an actual scam for a condo in Mississauga:
3. “Landlord” avoids Face to Face
This guy will insist on consistently communicating via email and will make excuses why he/she can’t meet you there. The story is almost always about being transferred away for work and once you send the deposit via western union they will courier you the house keys. They almost always say DHL you the keys. Seems like DHL is the courier of choice in Nigeria!
4. Use our Scam Free Search Tool
Our Search Tool pulls up-to-date, REAL properties available for rent directly from the MLS and packages it nicely for you. You can search by neighbourhood, even research the neighbourhood, schools, transit, hotspots, etc… You see something you like? Awesome! You can save it as a favourite and when you log back in, you have a list of all the stuff you’ve checked out. When you’re ready, call us and we’ll show you the places you’ve picked (and maybe something you didn’t even know about yet!) We love working with Renters and will take the time to make sure you get the best possible pad.