With an increased balanced market and growth in employment the initial demand for housing has been rentals. Typically new workers to the area are saving the deposit up and getting used to the area before committing to a purchase. Add to that the banks need for demonstrated stable employment and you have even more pressure for rentals.
Besides being a positive environment for investment property owners, the increased demand has also increased rental scams. Red Flags to watch for:
- Century 21 Rentals. Please note we are not a rental or a property management company, so the first red flag we want to bring your attention to is anyone that states that they are from Century 21 Rentals, such as ScamArtistsName.firstname.lastname@example.org
- Landlord no longer lives in Canada, and No One is here locally to meet with you to view the property.
- "I resided in this house with my family before my recent transfer to United States as an expatriate to represent my company on our new construction project in the city"
- Security Deposit Wired. "wire him 850 rent and he meet him to give keys". DON'T wire your deposit, you'll never see that money again. No Paypal, no email money transfers. Meet face to face with the landlord or property manager.
This last tip is more specific to Red Deer:
- If the photos have pictures of high rise buildings in the background those apartments are not from around here.
If it sets your radar off, chances are there is a good reason.