Even though rentals can now be listed on our Multiple Listing Service and many are still listed in the local paper, Craig’s List is where most people begin their search to find new digs these days. While most postings are completely legitimate, unfortunately, Craig’s list is often a conduit for someone’s illegal profit center. It’s fairly common for REALTORS® to receive calls from prospective tenants inquiring if one of our listings is really for rent. With just a few clicks, imposter landlords are able to pull information and photos from our listings and re-post them as rentals. This week, the “ landlord” was in England and, of course, she requested wired funds directly to her account. Thank goodness the prospective tenant was astute enough to do her research. Others have not been so lucky.
Here’s a couple of red-flags that might help weed out real from scam. Below market rent offers the first hint that the ad may be bogus. As negotiations progress, a request for wired funds is, of course, the most telling. It’s good to know that State law requires that every landlord have an on-island representative so logically, every rental should have someone local who can collect rent or at least vouch for owner credentials. If there are real doubts, check ownership with a REALTOR® or the tax office. Then ask for positive ID. Unfortunately, Craig’s List isn’t the only place tenants are running into trouble. An unexpected consequence of rampant foreclosures is the potential impact on tenants. And while new rules protect tenants with a valid lease, there are no protections for those whose lease is not valid. This might include a tenant who moves in after the auction but before the new deed records. Tenants on a month-to-month lease or those without a written lease will likely face a 90 day eviction. Good luck trying to recover a security deposit from a foreclosed owner. When property is purchased by an owner who is going to owner-occupy, the 90 day eviction rule applies even with a valid lease. Trouble is, tenants have no effective method of determining whether a foreclosure is under way prior to moving in. Of course, homeownership it the best way to avoid these issues altogether but for those who must continue renting, it’s best to seek out local owners with a long history of ownership.
Working with a reputable, licensed property manager is another great way to for tenants to avoid problems with bogus owners or a foreclosure eviction. So, if you in the market for new digs, take time to dig deeper. Know as much about your landlord or rental agent as they know about you!
Team Nakanishi
Hilo, HI Real Estate
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Team Nakanishi, Proudly providing superior real estate services to Hilo, Hi.
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