Bengaluru Rental Fraud: Protect Yourself from Fake Property Listings

Bengaluru Rental Fraud: The Silicon Valley of India, Bengaluru attracts professionals and students from all parts of the country, making the demand for rental properties shoot up. Even though the city offers ample opportunities, it has also become a hub for fraudsters who scam those in dire need of a house. In this article, we have taken a closer look at what happened recently in the incidence of rental scams and even given you tips on how you can avoid getting duped when finding a rental accommodation in Bengaluru.

Tight Escape of Bengaluru Techie from Rental Scams

Ramnath Shenoy, a Senior Director in SpotDraft, had close calls to being victimised by rental scams recently at the time of seeking an apartment for his new stay in Bengaluru. Shenoy had limited his search on the popular real estate website 99acres to avoid property brokers, preferring to opt for owner listings. He managed to find a 3BHK apartment in Prestige Pinewood, Koramangala, which was listed at a ridiculously low rate of Rs 30,000 per month, significantly lower than the market value. The price was just too good to be true, but Shenoy opted to go ahead.

Some Suspicious Signs That Should Have Raised Red Flags

Shenoy contacted the property owner, who spoke fluently in English and claimed to have shifted to Mangalore for work. The owner said he could only take Shenoy to see the property on weekends but "to seal the deal," he asked for a token payment of Rs 5,000. Though the whole transaction seemed legitimate at first, Shenoy's instinct told him to dig deeper.

After requesting the owner for some local recommendations, Shenoy found that the responses were fabricated. Upon requesting the UPI payment details, the owner produced an unusual and unprofessional ID. The repeated insistence on making the payment quickly was a final red flag for Shenoy, who realized that the deal was probably a scam.

How to Avoid Rental Scams in Bengaluru

The story of Ramnath Shenoy illustrates the growing trend of rental scams in Bengaluru. The scammers target new entrants to the city, who may not have experience or time to verify property details. Common tactics used in rental fraud include:

Unrealistically low prices

Owners unwilling to meet in person or show the property.
Requests for token payments or deposits before a property viewing.
To help avoid such scams, here are some key safety tips in house hunting:

1. Always Verify Property Ownership
You should always confirm the identity of the property owner before any payment is made. Ensure that the details match any official documents or local records of the person.

2. Avoid Remote Payments
Do not settle any payment without paying an actual visit to the house or physically meeting the owner. Remote pressure for urgent payment often takes over the gullibility of victims.

3. Platforms for Buying and Selling Realty
Only rely on validated listings from trusted sources, such as 99acres and Housing.com, which usually have precautions like identifying and blocking some listing frauds.

4. Alertness for "Too Good to be True" Deals
If a deal seems too good to be true, it probably is. Scammers often use unrealistically low prices to lure in victims.

5. Always Seek a Written Agreement
Always ensure that all rental terms are clearly outlined in a legal, written agreement before making any payments.