Sarasota Real Estate News

Many potential buyers I meet in Open Houses say they want to rent before buying.  Tenants, rental guests, and homeowners beware!   I rented my home in Atlanta through a family member when I lived in Panama, Central America, for two years.  I did not use a reputable property manager.  At that time, I was not a Realtor and thought I could save money by not using a property management company.  LOL. Read on.  Make no mistake, property managers are worth the commission they charge.  Always use a licensed professional in real estate sales and rentals. 

Uncle Sam compensates federal civil service employees when they work overseas, if they were assigned to the states first.   Otherwise, most people would not relocate to third-world countries.  My living expenses were covered to the tune of $2,000 per month. I had an awesome apartment that overlooked Panama City and the Canal.  Moving there was a promotion and I supervised foreign nationals in personnel recruitment and placement.   

I could spot cruise boats from my shower in the morning because one entire wall of my three-bedroom apartment - each room except the kitchen--even my shower--was floor-to-ceiling windows.  What a view!   I could be at the canal snapping photos and videos of the Princess "love boat," in mere minutes.  But most of the money Uncle Sam paid me for living expenses went to trying to maintain my residence back home.  One can only be 45 years old and be that short-sighted.  My home should have been SOLD before I left but I was way too attached to a piece of real estate. 

Funny Stories!  When I rented out my Atlanta home, with the help of a family member, the first tenant stopped paying rent after about six months.  I had to fly home to start the eviction process in Cobb County, and on the courthouse steps, I said to him, "Please show me that you are making an effort--at least show me a lottery ticket!"  After he moved out, he destroyed part of the ceiling in the master bedroom by going into the attic and throwing things down into the bedroom.  He also left dirty diapers in the living room!  Then I received notifications from the post office of four changes of address in four different names he was using.  Of course, I turned it over to the FBI.  Not even sure a credit check would have weeded out that thug but I doubt that he would have had the nerve to try this with a property manager.  Thug renters prefer to work with the homeowner directly - or their insurance agent because they are deliberate, professional debtors with a history of scamming their landlords and creditors.

The second tenant located by this insurance agent/family member was also a disaster. My family member loved to help people, so these were his wonderful but needy clients who just needed a break!   Thanks a lot, man!  In lieu of paying rent for three months, we agreed that my precious new tenant would take down my pretty turquoise flowed wallpaper in the master bedroom, repaint, and put in new flooring in the foyer. She was in the flooring business and had all of the contacts.  Sounds good, right?  Guess I am like many Sellers who refused to update my home.

After that work was completed, she decided she would live there rent free...forever since I was overseas.  At that point, my two-year assignment with Department of Defense was almost over and I received a phone call from my next door neighbor.  He said, "It's time to come home, Linda.  We asked her to cut the knee-high grass because we were having out-of-state visitors.  Your tenant's reply was, "DO YOU LOVE THE LORD?  IF YOU DO, THEN YOU WOULD READ YOUR BIBLE, AND IF YOU READ YOUR BIBLE, YOU WOULD SEE THAT YOU NEED TO LOVE YOUR NEIGHBOR.   AND IF YOU LOVE YOUR NEIGHBOR, YOU WOULD CUT THIS GRASS YOURSELF!"  You can't make this stuff up.   So sadly I decided to return to the states rather than take a two-year assignment in Europe with friends, which I so regret today, just to look after a piece of property.

Again, I started the eviction process and that's boat loads of fun.  Tenants have more rights than landlords, so to get rid of her, I turned off the electricity.  Georgia Power told me I can do that since I was the homeowner.   It worked. I drove by a few hours later and it looked like an ant farm with several people running around hauling things out on their backs and throwing stuff into pickup trucks.  They left buddies behind...rats that took me time to get rid of...peanut butter and rat traps did the trick.  After I moved in, I would be sitting at the dining room table and...zoom...there goes another rat!  I told that story in a real state class years later, and was told that disconnecting my electricity was an unacceptable remedy for bypassing the eviction process.  You should NOT do this, but it makes for a funny story.

Thinking about renting?  For consumers, here's what the FTC says about how to spot a rental scam.  Remember to call me at 941-914-4914 for your real estate needs in Sarasota, Siesta Key, or Venice, Florida.  Linda Holley, Realtor, GRI

Advice from FTC on Spotting a Rental Scam

They tell you to wire money

This is the surest sign of a scam. There’s never a good reason to wire money to pay a security deposit, application fee, first month’s rent, or vacation rental fee. That’s true even if they send you a contract first. Wiring money is the same as sending cash — once you send it, you have no way to get it back. 

They want a security deposit or first month’s rent before you’ve met or signed a lease

It’s never a good idea to send money to someone you’ve never met in person for an apartment you haven’t seen. If you can’t visit an apartment or house yourself, ask someone you trust to go and confirm that it’s for rent, and that it is what was advertised. In addition to setting up a meeting, do a search on the owner and listing. If you find the same ad listed under a different name, that’s a clue it may be a scam.

They say they’re out of the country

But they have a plan to get the keys into your hands. It might involve a lawyer or an “agent” working on their behalf. Some scammers even create fake keys. Don’t send money to them overseas. If you can’t meet in person, see the apartment, or sign a lease before you pay, keep looking. What if the rental itself is overseas? Paying with a credit card or through a reputable vacation rental website with its own payment system are your safest bets.

How to Report Scams

If you find yourself the target of a rental scam, report it to your local law enforcement agency and to the FTC. Contact the website where the ad was posted, too.

This article was previously available as Rental Listings May be Red Herrings.