Tips For Tenants & Landlords to Avoid Rental Property Scams In DHA Lahore
Lahore’s rental market has became extreme wide and Defence Housing Authority is the center point of it. Hence, this attracts not only potential tenants, high end investors but also scammers. To avoid these scams, it is necessary to understand how these scams are carried out, and today we are going to analyze them. Whether it be fraudulent agreements or fake listings, we are going to debug them all.
For Tenants:
1- Verify The Ownership of The Property:
For tenants finding a new home for them, it is necessary to always check who owns the property. In DHA Lahore, it is highly easy to verify the ownership of the property through the DHA Lahore Head Office in DHA Phase 6. Or you can ask for a copy of the allotment letter of the property.
2- Avoiding Underpriced Listings:
If the rental demand of the property is less than the market rate & sounds too good to be true, you need to be careful. Scammers attract tenants with such fraudulent listings to collect fraudulent deposits. To avoid this, you should do some research and compare the rent in the area.
3- Physical Visit of the Property:
You should never trust the pictures & videos of the property only before closing the deal. It is a must to visit the property atleast once before you make the agreement. Scammers often use images of different properties to deceive the tenants.
4- Paying before signing the Agreement:
A highly common scam comes in when the tenant pays the security & advance rent before signing the agreement papers. Always ensure that you have signed the agreement before making any sort of payment.
For Landlords:
1- Verify The Tenants Background:
Before leasing out the property to the tenant, it is mandatory that all the background checks are made on the tenant. Their identity, rentals history & police verification is highly important. Scammers often times use fake identities or fake police verifications.
2- Securing Your Property Information:
Scammers these days use your listing and photos and deceive potential clients. You should regularly google your property to see if any fake listing is made. You should also add watermarks or phone number on the listing images so they can’t be reused.
3- Doing Proper Documentation:
It is mandatory that the landlord reads and verifies the agreement documentation before signing. Fake stamp papers & fake signs are very common these days. Verify the stamp paper by scanning the QR Code on the stamp paper & make sure the signatures of tenant match with their ID Card.
4- Saving All Type of Communication With The Tenant:
During these technologically advanced times, it is preferred that all types of communication, may it be verbal over the phone or via texts be saved. This will help you have a stronger stance any sort of misunderstandings or issues arise in the future.
5- Use Trusted Platforms and Firms to Close the Deal:
It is mandatory to use trusted platforms and sources to list your properties & to close the deals using reliable estate agents. Rentals.com.pk is a great option for you to list your properties free of cost on their website and to get reliable, safe & good tenants.
Scams in the rental industry of DHA Lahore are increasing but they all can be avoided by taking the precautions shared above. Always stay vigilant, trust your instincts & whenever you feel something is not right reassess the satiation by taking your time.
Regards.
