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Updated about 3 years ago on . Most recent reply

User Stats

70
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31
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Alex Ballesteros
  • New to Real Estate
  • Los Angeles, CA
31
Votes |
70
Posts

Is This A Rental Scam? Landlord Requiring Cash Deposit

Alex Ballesteros
  • New to Real Estate
  • Los Angeles, CA
Posted

I am on the verge of moving out & renting my first apartment unit (for myself), and I found a place that I am highly interested in, so i submitted an application for $25.00, along with a copy of some pay stubs, license & my social security.  I was a little thrown off by the fact that the lady who helps the owner with the application process/ collecting rent told me that the owner typically collects the first months rent ($1,595) + deposit ($1,595) in CASH only as first payment, and after that he accepts Cashiers Checks, Regular Checks or Cash. She says a lot of people are steered away for this reason so I thought i would ask you guys for your opinion? Is this a potential scam? Or is this common practice?

Things to note before responding:

• I visited the actual apartment in person & it was exactly as shown in the Zillow listing.

• The Zillow posting was made by the owner (which he only states his first name & phone number, no last name)

• I have not met the owner in person yet since his maintenance manager opened & showed me the apartment.

• He has a lady who works for him who helps him with receiving applications & collecting rents (at her apartment which she lives in 10 minutes away from the rental)

• I have not signed/ seen a lease yet since I just turned in the application today 1/6/22 & the owner has not made their decision who they'd like their tenant to be. The lady said he usually takes 1+ week(s) to decide, sometimes longer depending on how many applications are turned in.

Thanks for your help & advice in advance! - Alex

Most Popular Reply

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3,407
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2,945
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Joe S.
#1 Personal Finance Contributor
  • Investor
  • San Antonio
2,945
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3,407
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Joe S.
#1 Personal Finance Contributor
  • Investor
  • San Antonio
Replied

The fact that they didn’t miraculously approve you instantly and want the cash at that exact moment lowers the chances that it is a scam IMO. 

  • Joe S.
  • Loading replies...