Whether you’re searching for your first rental or are a seasoned renter seeking a new place in a new city, beware that rental scams are all too common.
With vacancy rates dwindling and rents soaring in many markets, schemers see tenants as easy marks for their scams, which are often perpetrated on Craigslist and other sites. Fraudsters typically reel in their victims by advertising monthly rents that are well below market rates.
“If it sounds too good to be true, it probably is,” says Andrew Woo, director of growth and data science at San Francisco-based Apartment List.Here are four common scams to watch out for as you hunt for a new home 1. The [...]
With home prices and down payments on the rise, many prospective homeowners are finding a different path to homeownership. Some homeowners and landlords offer “rent-to-own” arrangements where tenants can buy the homes they are renting after a period.
A rent-to-own contract requires a prospective buyer to pay monthly rent to the homeowner plus a payment towards purchasing the home at a later date, usually three to five years in the future. The purchase price is set in advance.
For example, a house could be rented by its owner for a standard rent of $1,750 per month. But when negotiating the rent-to-own contract, the buyer and the homeowner can agree that that [...]
Jim is divorced, with two grown children and a secure job. He currently rents a condo, but he is approaching his 50th birthday and wondering if he should simply buy it outright. Caroline is in her 40’s and recently widowed with a significant inheritance that would allow her to buy her own home. Pat is a single mother of two, struggling to get by on $40,000 a year. The one question they all have is, “Should I rent or buy a home?”
“Historically,” said Ken H. Johnson, Ph.D., “the American dream has been to own your own home. But is that still the dream? No, not for a lot of us.” Johnson is the Associate Dean and a Professor in the Finance [...]
Drones are giving real estate buyers a whole new way to see potential homes online — from the top down. The availability of drones for commercial uses has added a new dimension to portraying real estate online that is changing the ways many agents and their clients are marketing their homes.
A drone’s eye view of a property can include dramatic video footage that introduces a home from above or takes viewers on a breathtaking aerial tour to give a feel for a home in its neighborhood setting and surroundings. Drones can take panoramic aerial shots from up to 400 feet up or zoom in for close-ups to feature a home’s exterior details and off landscaping features like [...]